One of the worst aspects of the federal tax code is the way it treats saving. Under ordinary circumstances, saving is treated to double taxation at the individual level, reducing after-tax returns to saving and...
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- Fannie, Freddie Woes Predicted Long Ago
Fannie, Freddie Woes Predicted Long Ago
See page 3 of this old scanned-in Tax Foundation newsletter to see the prescient, plain-English piece he wrote in 1989 about the alarming debt of Fannie Mae, Freddie Mac and other so-called government-sponsored enterprises.
It'll be no surprise to Prof. Schick to be reading almost 20 years later today's articles about the debt-related woes of those unsound institutions:
BusinessWeek: "Fannie, Freddie Resume Their Free Fall"
We can only hope that Congress and the Administration ignore the bailout pleas of the special-interest crowd, exemplified as usual by the Realtors' chief economist Lawrence Yun: "Just given the size of the two companies, surely the government would not stand aside."
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