Now that Congress has a proposal before them to bail out beleaguered investment banks in the wake of the subprime mortgage fallout, there is one way to pump liquidity into the markets almost no one is talking about – cutting the financial obligations of these troubled firms by cutting taxes. That was one proposition Rep. Jeff Flake, R-Ariz., suggested when he spoke to conservative bloggers at the Heritage Foundation in Washington, D.C. on Sept. 23. He was promoting his new grassroots activism Web site PorkParade.com. But even Flake, a staunch earmark reform crusader, admitted that issue is trivial compared to...
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Flake's Banking Crisis Bailout Alternative: Capital-Gains Tax Holiday
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