As Congress debates an overhaul of the tax code, it is considering implementing new taxes that will have a dramatic impact on the middle class and effectively raise taxes on about 96 million people. This blanket-style review of the tax code would end the tax-exempt status for nonprofit credit unions, which would jeopardize tens of thousands of jobs and stifle economic growth.
New taxes on credit unions will also eliminate needed competition between banks and credit unions. The result: higher fees and higher loan and mortgage rates for many in the middle class, and for small businesses.
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2 comments:
This is almost laughable. I've been getting desperate emails and statement inserts from the State Employees credit union wailing about the possibility of the tax exemption being eliminated.. but these are the same people who were marching around in their green AFSCME shirts campaigning for the people who are taking it away.
DUH.
Whose income did you think they were planning to redistribute?
Actually, I'm glad to see this happening. It appears that the only way to awaken the emotion-driven low info voters is to let them take it right in the shorts. Reality Therapy.
That's why the media and democrats hate when stuff like this gets published because if the voter thinks money loss is involved they may change their vote.
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