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But, they are important to keep the economy moving.
I have bought many pieces of equipment I really did not "need" for the write offs.
This is good for everyone.
I've bought $30,000 computers I didnt "need" for the credits.. I know a few individuals who have bought 2nd homes just for the "credits"..
its these credits which have caused this nation to turn into a consumer nation rather than a saving and investing nation, and its why are recessions turn into depressions much easier than other nations who encourage the opposite..
But yes, we all know the government uses these credits, i.e. welfare payments, to entice people to consume creating bubble after bubble.
Who and what determines such rent on natural resources? It also sounds like socialism where a person simply "rents" the resources, while the government owns it.
I have thought this when they talk of "REVERSE MORTGAGE" another government "SCAM". Not so sure!!
The chart posted was gross, and not only did I very clearly indicated this on my postings so I'm not changing the subject, but so did the story if you read it.
Depreciations are not costs, in a manner of speaking they are credits being offered.. What I was speaking of is if an individual sells $50M worth of goods a year, but the costs of those goods were $50M, the NET profit = $0.. I'd support doing away with all depreciations and "credits" but the nation would be up in arms asking for their "entitlements" from the government.
Depreciatons certainly are costs...of doing business. But IRS "pro-rates" allowing business to write off these kinds of expenses. Another government screw up in manipulating our economy! Business writes off every expense that the operation of that business incurs.
That's exactly why this Obama/Dem idea of "raise taxes on the rich" who are either business owners or investors is really, really stupid. However much any business has to pay in taxes will be added on to the product/service/etc., that the consumer will end of paying at the end. Business never pays taxes...the consumer pays that tax as an add on...business simply collects from the consumer and forwards to the IRS!
Thought poor was being on welfare.......someone stated that the poor pay into social security, if you receive welfare how is that possible??
I don't even think we all know what's poor and middle -class any more.
The welfare poor now have a higher standard of living than the lower middle class who pay taxes, don't recieve handouts,and now have crushing inflation to deal with.
Depreciatons certainly are costs...of doing business. But IRS "pro-rates" allowing business to write off these kinds of expenses. Another government screw up in manipulating our economy! Business writes off every expense that the operation of that business incurs.
That's exactly why this Obama/Dem idea of "raise taxes on the rich" who are either business owners or investors is really, really stupid. However much any business has to pay in taxes will be added on to the product/service/etc., that the consumer will end of paying at the end. Business never pays taxes...the consumer pays that tax as an add on...business simply collects from the consumer and forwards to the IRS!
A business should be able to deduct every expense of doing business, shouldn't it? What concerns me about what you're saying about business passing on the costs is way too many competitor buyouts the name of "streams of efficiency". Everytime you turn around, you hear about an ATT buying out another competitor. Gov't seems to turn a blind eye to all of this in these times. My feeling is adequate competition would keep a check on too much of the passing the costs to consumers. Now with so few competitors in the marketplace, that is no longer a guarantee.
Capitalism is designed to favor the corporations, pure and simple, while the rest of us are taxed to death every time we work, fly a plane, rent a car, pay a phone, utility, cable bill, etc.
I feel fortunate that I am self-employed and have some leeway to deduct many of these ubiquitous expenses that creep up in everyday American life. I can only imagine what the big corporations must be able to deduct.
The welfare poor now have a higher standard of living than the lower middle class who pay taxes, don't recieve handouts,and now have crushing inflation to deal with.
So true. Free healthcare, food stamps, education, rent vouchers, welfare for their strays that they pop out.
Depreciatons certainly are costs...of doing business
Not true, its way of SPREADING out those costs.. If it was a cost of doing business, then it would be deducted from your net profit anyways, hence you not only are not paying taxes on the costs which otherwise would have been taxed as profit, but now you are being reinbursed for those costs as well.
Quote:
Originally Posted by lorrysda
But IRS "pro-rates" allowing business to write off these kinds of expenses.
Actually that would be Congress who allows businesses to write them off. The IRS only follows the laws established and written into law.
Quote:
Originally Posted by lorrysda
Another government screw up in manipulating our economy! Business writes off every expense that the operation of that business incurs.
They do it to entice businesses to take expenses they wouldnt otherwise take.. Stupidity run amock with the government.
Quote:
Originally Posted by lorrysda
That's exactly why this Obama/Dem idea of "raise taxes on the rich" who are either business owners or investors is really, really stupid.
its beyond stupidity because rich is obtained by obtaining "wealth", and we do not tax wealth in this nation, we tax income.. So many here dont seem to understand the difference.. Raising the tax rate to 100% on "the rich" wont increase revenues, it just tells "the rich" to put off their gains for a longer period of time, thereby decreasing revenues..
Quote:
Originally Posted by lorrysda
However much any business has to pay in taxes will be added on to the product/service/etc., that the consumer will end of paying at the end. Business never pays taxes...the consumer pays that tax as an add on...business simply collects from the consumer and forwards to the IRS!
Agreed, but that doesnt mean policies should be put into place to entice people to buy things that they wouldnt normally buy.. like 2nd homes for the tax writeoffs etc..
A business should be able to deduct every expense of doing business, shouldn't it? What concerns me about what you're saying about business passing on the costs is way too many competitor buyouts the name of "streams of efficiency". Everytime you turn around, you hear about an ATT buying out another competitor. Gov't seems to turn a blind eye to all of this in these times. My feeling is adequate competition would keep a check on too much of the passing the costs to consumers. Now with so few competitors in the marketplace, that is no longer a guarantee.
Capitalism is designed to favor the corporations, pure and simple, while the rest of us are taxed to death every time we work, fly a plane, rent a car, pay a phone, utility, cable bill, etc.
I feel fortunate that I am self-employed and have some leeway to deduct many of these ubiquitous expenses that creep up in everyday American life. I can only imagine what the big corporations must be able to deduct.
Businesses making expenses reduce their net profit yearly, thus making them pay less in taxes.. If it makes sense for a business to buy a $30,000 computer, then they should do so based upon the purchasing merrits of the transaction alone. They shouldnt be enticed to spend $30,000 on a computer when a $5,000 one would be sufficient just because the tax code says it would be more beneficial..
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