Seems like the taxpayer American people are getting scammed yet again.
I wonder if this same sort of loss-carryover tax-break holds true for other bail-outs, like the banks and auto companies? If so, then why pick on just AIG or other bailed-out insurers?
If other bailed-out companies can do this (avoid paying taxes now that they are returned to profitable status) then the blame should be placed where it belongs: On the corrupt politicos and their “friends-in-high-places” operating officers of the companies that got bailed out!
Agree with the premise of doing away with tax breaks, but NOT for AIG. If we do it do ALL there are so many sweetheart deals right now, only we the taxpayers get the shaft
This is one of the few areas where I agree with Ms. Warren. I, however, do not blame AIG for taking what is handed to them on a silver platter (or is it platinum?), but I do blame the previous and current administration for allowing the bailout in the first place, and then the current administration for adding to the mess by allowing even more largess from the government so that AIG can pay back the same government so both parties get pats on the back.
Like it or not, tax accounting codes have to be applied equally. There shouldn’t be a carve-out for those firms who were supported by TARP funds, or where like AIG the majority of the stock is or was owned by the Feds.
The problem is the code itself – which is already incredibly burdensome. Hats off to those who can figure it out, and socks off to those who can manipulate it for their clients’ or employers’ benefit.
Seems like the taxpayer American people are getting scammed yet again.
I wonder if this same sort of loss-carryover tax-break holds true for other bail-outs, like the banks and auto companies? If so, then why pick on just AIG or other bailed-out insurers?
If other bailed-out companies can do this (avoid paying taxes now that they are returned to profitable status) then the blame should be placed where it belongs: On the corrupt politicos and their “friends-in-high-places” operating officers of the companies that got bailed out!
Agree with the premise of doing away with tax breaks, but NOT for AIG. If we do it do ALL there are so many sweetheart deals right now, only we the taxpayers get the shaft
This is one of the few areas where I agree with Ms. Warren. I, however, do not blame AIG for taking what is handed to them on a silver platter (or is it platinum?), but I do blame the previous and current administration for allowing the bailout in the first place, and then the current administration for adding to the mess by allowing even more largess from the government so that AIG can pay back the same government so both parties get pats on the back.
Like it or not, tax accounting codes have to be applied equally. There shouldn’t be a carve-out for those firms who were supported by TARP funds, or where like AIG the majority of the stock is or was owned by the Feds.
The problem is the code itself – which is already incredibly burdensome. Hats off to those who can figure it out, and socks off to those who can manipulate it for their clients’ or employers’ benefit.