"F.O.A.D." wrote in message
m...

On 9/4/13 7:13 PM, Mr. Luddite wrote:


"F.O.A.D." wrote in message
m...

On 9/4/13 6:45 PM, Mr. Luddite wrote:


"F.O.A.D." wrote in message
m...

On 9/4/13 4:44 PM, Mr. Luddite wrote:


"F.O.A.D." wrote in message

There's nothing mythical about depreciation allowances, and they
are
subsidies.

Period.

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My business made significant investments in manufacturing and
engineering equipment. They were depreciated as allowed under tax
laws
every year. I never knew they were a "subsidy".




Same sort of subsidy as homeowners get on their mortgage interest.

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How the heck is that a "subsidy"?

Does MD have an excise tax on automobiles like MA does?

Should you pay taxes on the current new value of a car, even if
it's 10
years old?

You don't think the home mortgage tax deduction is a subsidy of home
ownership?

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No, I don't. I see it as a tax credit intended to encourage home
ownership for as many as possible.
It's not like someone else is paying the amount of the tax credit in
order for you to get it.

*That* would be a tax subsidy.



Many economists, especially some of those closely affiliated with
anti-tax groups, disagree with you.

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Good. Let them disagree. Take away the mortgage interest deduction
and watch overall tax revenues *decrease* as the economy goes from
slow forward to dead stop.

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BTW ... I have no dog in this fight. We don't have a mortgage.
All we pay is ridiculously high property taxes.