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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (69800)4/1/2014 12:42:21 PM
From: TimF  Read Replies (1) of 71588
 
Wonder if the term 'looters' encompasses big business Crony Capitalists benefiting from special tax loopholes inserted in the codes for their particular favor

Certainly crony capitalists who get direct subsidies (including refundable tax credits) could reasonably be called looters. Tax deductions or credits (that are not refundable and do not result in a negative amount of tax due) present a slightly more complex point. Technically the government is still looting them since they are still paying money to the government. OTOH the economic incentives that such credits, deductions etc. create is pretty much the same as that created by direct subsidies, and going after them is definitely rent-seeking behavior resulting in corruption, economic distortion etc.
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