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Canuck57[_9_]

On 24/07/2011 6:32 PM, wrote:
On Sun, 24 Jul 2011 18:51:36 -0400,
wrote:

On 7/24/11 6:42 PM, wrote:
On Sun, 24 Jul 2011 15:37:38 -0400, Wayne B
wrote:

Boats are a little different since they are
typically financed over a much shorter period of time and are a luxury
item with no overall benefit to society much as I hate to say it.

Unless you consider the people who build and maintain boats. We saw
this with the "luxury tax" a while ago. Boat builders laid off
thousands of workers.

The same could be said about the rapid depreciation rules on corporate
jets. It causes these planes to be turned over faster and helps the
aircraft builders.
It should also be noted, most of these small planes are not actually
owned by the fat cat corporations you think of. They belong to small
charter airlines and leasing companies.

We need to shut down corporate subsidies and corporate welfare. The only
tax breaks a business should get should be directly related to the
hiring of people in the United States.

Since we manufacture most of these planes here and all of the
maintenance people work here (as opposed to a lot of major carriers
who have offshored their maintenance) this might qualify.

I would still be willing to look at a flat tax with no deductions.

I agree. Flat rates and fewer deductions is best. It would also allow
government to lower the rate as not as many holes exist. I say this as
many a corporation and "rich" are existing the US as their headquarters.

An example, why should Seagate who makes drives in Taiwan and China,
selling them elsewhere in the world outside of the US pay US taxes at
35% when they can go to a country with 15%? And if US wants to tax
them, so what? Then US citizens can pay the higher rates just for the
product shipped to the US.

Once gone, pretty hard to attract them back.
--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .