Word: bailouts
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Could any of them be helped by the bailout bill? Possibly. Do they deserve it? Good question...
...take a different look at that beating on the Dow. Turn the $1.2 trillion into a gain (say, by passing a bailout law that actually loosens stuck gears of credit) and the long-term capital gains tax on it is $180 billion, which could buy a lot of crap CDOs. And then perhaps resell them at a profit. If we take that $1.2 trillion as a loss, the government foregoes tax money, because taxpayers will report lower incomes after they write off investment losses. Revenues drop, so the government then has to keep priming the pump by increasing spending, which...
...current levels of funding for financial aid and research through March, a move that will impinge on higher education support due to the current rapid rise in inflation. This financial support may be further reduced if spending cuts arise as a result of the government’s proposed bailout package, which the House rejected yesterday...
Higher education experts are also concerned that the high cost of a major federal bailout package could affect discretionary spending on student aid and research funding...
...fear is that in the long term with a very expensive war, and perhaps a very expensive bailout, and a recession that decreases tax revenues, it will be very hard to get the kind of funding into science and engineering that is absolutely needed,” said Harvard Provost Steven E. Hyman, who is a member of the Coalition for Life Sciences, which advocates for the NIH budget...