In so many words, you confirmed what I said: A tax credit is not a subsidy if you happen to like it. If you really believe this, I'm guessing you have problems balancing your own checkbook.
First off, "subsidy" is not a word with negative connotations, unless you choose to make it so. There are and have been plenty of government subsidies, some good, some bad. It's unlikely the transcontinental railroad would ever have been built had the federal government not given the railroads millions of acres in exchange for its construction.
Secondly, the math is simple: if the government gives a tax credit to a individual or corporation, that's money it doesn't collect and it's money the individual or corporation doesn't pay in taxes. If you think that's not a subsidy, then I guess you have a new definition for the word.
Politicians LOVE to give tax credits because it's a not-too-clever way to spend money while pretending to not spend money. You can fool some of the people all of the time.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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