Go Ahead, Save Your Tax Cut

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That is the best rationale I have heard for a broad-based tax cut. Banks (lenders) had poor balance sheets so the government injected equity capital. Many citizens(borrowers) need the same deal so the banks will actually lend to us! As much as I dislike it, I think an auto tax credit could also help with slumping auto sales. I think financing trouble may be cutting sales instead of demand. Anecdotally from Upstate New York, the Sunday Times Union interviewed a car salesman who complained of most of his potential sales dying due to unavailable financing.

Joe of NY 6:39PM January 12, 2009