Hey Big Three : No bailout for you!

It should come as no surprise that all kinds of businesses and industries are trying to get a piece of the $3 trillion bailout mess. Why shouldn't they? The Treasury Department basically opened the checkbook and said, "Step right up, ladies and gentlemen." Too bad it was my checkbook, your checkbook, and the checkbooks of current and future taxpayers.

All week long, we've been hearing about how the U.S. automakers "need" some of the bailout funds. The frontrunner in the race to see which automaker(s) can receive money seems to be General Motors. The arguments in favor of bailing out the company? 100,000 jobs will be lost at GM. The company's 1,300 suppliers will be put at risk, along with their employees. Retirees stand to lose pension and health care benefits.

But why should the government bail out an industry that makes no sense? More cash for GM is like flushing money down the toilet. Sales are plummeting and the cash reserve is dwindling. Why? Because American car makers have cost structures to their businesses that are no longer viable. Between union pay, benefits, and retirement plans, the cost for GM (or either of the other domestic makers) is simply too high to be competitive.

Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
3 Great Tips for Your 2022 Taxes
There's no reason to wait until tax time to start making sure you've checked all the right boxes. Here are three tips for making the most of your money when it comes to filing your taxes in 2022.
Read MoreBrought to you byTurboTax.com
4 Types of Tax Preparers
There are four general types of tax preparers: certified public accountants, enrolled agents, tax attorneys, and non-credentialed preparers. Here's a quick guide on the differences between them.
Read MoreBrought to you byTurboTax.com
Child Tax Credit
Tax reform has caused some changes to the rules for the Child Tax Credit in recent years. Here's how to know whether you qualify for this credit.
Read MoreBrought to you byTurboTax.com
Maximizing Tax Deductions for the Business Use of Your Car
The business use of your car can be one of the largest tax deduction you can take to reduce your business income. This is a big, big deal. Why two bigs? Because your business income is used to calculate two taxes: your personal income tax and your self-employment tax (the amount you pay into Social Security and Medicare as the owner of your rideshare business). Maximizing your deduction for the business use of your car will help you minimize these taxes.
Read MoreBrought to you byTurboTax.com