I absolutely hate it when the government and their left-wing lapdogs the MSM put it this way. It doesn't cost a thing. It may mean the government gets to confiscate less money from citizens and/or businesses. But it is not a "cost."
A cost implies it is the government's money and they are spending on something. It is not the government's money. It rightfully belongs to the businesses. This continual referral to tax reductions as "costs" sets the wrong relationship between government and the citizens and businesses that support it monetarily through these confiscatory tax policies.
...and Obama would pay for the plan by closing other corporate tax breaks, said the official, who spoke on condition of anonymity.
I will 100% guaran-damn-tee you that hussein increases taxes on companies far more than the "break" he may give them on research. This is a sucker ploy, just like when they crowed about trimming all of 17 million from a budget just before blowing 700 billion on porkus.
Very well said!
It is partially true in this case if it really is a credit (not a deduction). A business could owe no tax, and get paid by a credit the govt for doing research, so It would be a cost to the govt (ultimately a burden on all other taxpayers). Tax credits probably shouldn’t exist as they are basically targeted welfare.