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August 10, 2018 07:09 AM UTC

Friday Open Thread

  • 9 Comments
  • by: Colorado Pols

“To generalize is to be an idiot.”

–William Blake

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9 thoughts on “Friday Open Thread

  1. Who'd have thunk? Banks aren't considered financial services

    Treasury says banks are not financial-services firms, giving them a new tax break

    The determination, sought by the banking industry, was one of dozens in 184 pages of proposed regulations issued this week by the Treasury’s Internal Revenue Service that will allow high-income owners to claim a new tax deduction as part of an expansive interpretation of who gets the break designed for so-called pass-through businesses.

    Daniel Hemel, an assistant law professor at the University of Chicago, said the determination was a head-scratcher.

    “Most of us had thought that banks are financial services. The House Financial Services Committee regulates banks. The Financial Services Roundtable represents banks,” he said.

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