The credit union industry is gathering in Washington, D.C., this week to lobby Congress for preserving its outdated tax exemption. To counter their efforts, ABA is running a drive time radio ad recorded by President and CEO Frank Keating as part of "It's Time to Pay" campaign.
Credit unions are “abusing their taxpayer subsidy, using their untaxed profits to buy huge corporate headquarters and naming rights to stadiums,” Keating says in the ad. “Ask yourself: why should you pay more taxes so that credit unions can pay none?”
Listen to the Radio Ad.
I belong to a credit union and I do not pay more taxes. I paid taxes for the 2008 Stimlus Package that funded bailouts to the criminals that you have the audacity to call bankers. You are a self-serving being and that is what your campaign is about, so be a man by shutting up and don't open your mouth until some honesty comes out.
ReplyDeleteAs Senator Tom Coburn from Oklahoma stated, "tax earmarks are essentially tax increases for everyone who doesn’t receive the benefit."
ReplyDeleteHe made that comment when introducing legislation to remove the tax exempt status for professional sports leagues. The credit union tax exemption is a tax earmark.
As for the 2008 legislation, the Treasury Department is reporting that the bank programs will actually earn a profit.
Earning a profit for whom?
DeleteFor taxpayers and the Treasury.
ReplyDeleteLOL @ taxpayers and the Treasury profiting! I guess the WSJ article last month citing the losses from the program was bad reporting. If taxpayers profited, then I will be sitting patiently on my couch waiting for that check.
ReplyDelete