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Our great capitalist society...
On Friday, September 6, 2013 10:07:34 PM UTC-4, Earl wrote:
True North wrote: You guys can deduct your property taxes from your information come taxes?? I'd love to have that benefit. What is/are "information come taxes", moron? You would think they'd be able to deduct property taxes given the hundreds of lines for deductions on their income tax forms. |
Our great capitalist society...
On 9/7/2013 9:17 AM, John H wrote:
On Friday, September 6, 2013 10:07:34 PM UTC-4, Earl wrote: True North wrote: You guys can deduct your property taxes from your information come taxes?? I'd love to have that benefit. What is/are "information come taxes", moron? You would think they'd be able to deduct property taxes given the hundreds of lines for deductions on their income tax forms. He should be able to deduct something. He pays more taxes than Harry, and Harry seems to be able to deduct everything. ;-) |
Our great capitalist society...
On Sat, 07 Sep 2013 09:53:03 -0400, Hank©
wrote: On 9/7/2013 9:17 AM, John H wrote: On Friday, September 6, 2013 10:07:34 PM UTC-4, Earl wrote: True North wrote: You guys can deduct your property taxes from your information come taxes?? I'd love to have that benefit. What is/are "information come taxes", moron? You would think they'd be able to deduct property taxes given the hundreds of lines for deductions on their income tax forms. He should be able to deduct something. He pays more taxes than Harry, and Harry seems to be able to deduct everything. ;-) === Harry is *special*, just ask him. |
Our great capitalist society...
In article , says...
On 9/4/13 4:51 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message m... On 9/4/13 12:16 PM, wrote: On Wed, 04 Sep 2013 11:09:12 -0400, "F.O.A.D." wrote: On 9/4/13 10:59 AM, wrote: On Wed, 04 Sep 2013 08:15:00 -0400, "F.O.A.D." wrote: Let's not forget the depreciation allowances airlines get for buying equipment. These are subsidies. What business doesn't get depreciation allowances? You didn't answer but I bet you took an accelerated depreciation allowance on your new printer. If you didn't, fire your accountant. You folks are really stretching to find these mythical subsidies but the fact is the passenger is paying more than the government gives them back. That is far from true in rail where the ticket price doesn't even cover the cost of running the train. There's nothing mythical about depreciation allowances, and they are subsidies. Period. Every business in the US gets them too (even your little hobby). That is not the same as a direct cash infusion like we give passenger rail. A subsidy by any other name would not smell as sweet, eh? ------------------------- I don't understand what you are talking about. I go out and buy a brand new piece of equipment for my business .... call it a fork truck. I pay the full value of the fork truck to the manufacturer. I use the fork truck in the business. Over the years it depreciates in value. I use the depreciation tables as to it's value when filing taxes. How the hell is *that* a subsidy? Special tax breaks for depreciation are tax expenditures because they are government spending programs that give out tax breaks instead of direct payments. Who benefits the most from the depreciation deduction? Is it the business or is it the employees using newer safer equipment or is it the company that built the equipement being depreciated. |
Our great capitalist society...
In article , says...
On 9/4/13 7:56 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message m... On 9/4/13 6:51 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message ... On 9/4/13 4:51 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message m... On 9/4/13 12:16 PM, wrote: On Wed, 04 Sep 2013 11:09:12 -0400, "F.O.A.D." wrote: On 9/4/13 10:59 AM, wrote: On Wed, 04 Sep 2013 08:15:00 -0400, "F.O.A.D." wrote: Let's not forget the depreciation allowances airlines get for buying equipment. These are subsidies. What business doesn't get depreciation allowances? You didn't answer but I bet you took an accelerated depreciation allowance on your new printer. If you didn't, fire your accountant. You folks are really stretching to find these mythical subsidies but the fact is the passenger is paying more than the government gives them back. That is far from true in rail where the ticket price doesn't even cover the cost of running the train. There's nothing mythical about depreciation allowances, and they are subsidies. Period. Every business in the US gets them too (even your little hobby). That is not the same as a direct cash infusion like we give passenger rail. A subsidy by any other name would not smell as sweet, eh? ------------------------- I don't understand what you are talking about. I go out and buy a brand new piece of equipment for my business .... call it a fork truck. I pay the full value of the fork truck to the manufacturer. I use the fork truck in the business. Over the years it depreciates in value. I use the depreciation tables as to it's value when filing taxes. How the hell is *that* a subsidy? Special tax breaks for depreciation are tax expenditures because they are government spending programs that give out tax breaks instead of direct payments. --------------------------- Different animal altogether. Tax breaks on investments that are intended to stimulate purchases or further technology is one thing. Good example is the federal tax credits given if you buy an electric or hybrid auto or if you install solar panels on your business or house. Those are subsidized purchases in the respect that you "get back" in tax credits some of your investment costs. Depreciating the value of purchases of equipment used in businesses .... even cars .... according to a standard depreciation schedule is not a "subsidy" of any kind or shape. Really? The net effect is a lowering of taxes...a subsidy allowed by the government. --------------------------------- Lowering from what? Home ownership spurs the economy in a big way. The more people who can legitimately buy a house (and make the payments), the more snowballing effect it has on the economy. Construction goes up, appliance sales go up, unemployment goes down and tax revenues increase. It's not a subsidy. It's a tax incentive for home ownership that increases tax revenues. A tax incentive is a subsidy. Why is anyone talking tax policy with you, you don't believe in and have demonstrated that you are not subject to the tax laws that speak of. When you provide proof that you have paid all of your taxes, current and in arearrs, and your debts then maybe you will have a leg to stand on. |
Our great capitalist society...
In article , says...
On Thu, 05 Sep 2013 14:04:09 -0400, John H wrote: On Wed, 04 Sep 2013 22:42:10 -0400, wrote: On 5 Sep 2013 00:42:17 GMT, F.O.A.D. wrote: BTW ... I have no dog in this fight. We don't have a mortgage. All we pay is ridiculously high property taxes. Since you can deduct those property taxes from your federal and probably state tax return, you're receiving a subsidy there, too. Most people without a mortgage, don't have enough deductions to itemize. Gifts to charity, state, and property taxes allow my itemization. John (Gun Nut) H. You must have some humongous taxes. My real estate taxes are $1600 and no state income tax. $6000 here in the Democratic Peoples Republic of Montgomery County and the Democratic Republic of Maryland. |
Our great capitalist society...
In article , says...
On Thu, 05 Sep 2013 14:45:31 -0400, wrote: On Thu, 05 Sep 2013 14:04:09 -0400, John H wrote: On Wed, 04 Sep 2013 22:42:10 -0400, wrote: On 5 Sep 2013 00:42:17 GMT, F.O.A.D. wrote: BTW ... I have no dog in this fight. We don't have a mortgage. All we pay is ridiculously high property taxes. Since you can deduct those property taxes from your federal and probably state tax return, you're receiving a subsidy there, too. Most people without a mortgage, don't have enough deductions to itemize. Gifts to charity, state, and property taxes allow my itemization. John (Gun Nut) H. You must have some humongous taxes. My real estate taxes are $1600 and no state income tax. Last year's state income tax, real estate and property taxes came to over 15K. If I could convince my wife to move to NC, we'd probably save about 12K of that. John (Gun Nut) H. I know of a lot of people who have retired to Emerald Isle in NC. |
Our great capitalist society...
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Our great capitalist society...
On 9/8/2013 9:35 AM, BAR wrote:
In article , says... On 9/4/13 4:51 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message m... On 9/4/13 12:16 PM, wrote: On Wed, 04 Sep 2013 11:09:12 -0400, "F.O.A.D." wrote: On 9/4/13 10:59 AM, wrote: On Wed, 04 Sep 2013 08:15:00 -0400, "F.O.A.D." wrote: Let's not forget the depreciation allowances airlines get for buying equipment. These are subsidies. What business doesn't get depreciation allowances? You didn't answer but I bet you took an accelerated depreciation allowance on your new printer. If you didn't, fire your accountant. You folks are really stretching to find these mythical subsidies but the fact is the passenger is paying more than the government gives them back. That is far from true in rail where the ticket price doesn't even cover the cost of running the train. There's nothing mythical about depreciation allowances, and they are subsidies. Period. Every business in the US gets them too (even your little hobby). That is not the same as a direct cash infusion like we give passenger rail. A subsidy by any other name would not smell as sweet, eh? ------------------------- I don't understand what you are talking about. I go out and buy a brand new piece of equipment for my business .... call it a fork truck. I pay the full value of the fork truck to the manufacturer. I use the fork truck in the business. Over the years it depreciates in value. I use the depreciation tables as to it's value when filing taxes. How the hell is *that* a subsidy? Special tax breaks for depreciation are tax expenditures because they are government spending programs that give out tax breaks instead of direct payments. Who benefits the most from the depreciation deduction? Is it the business or is it the employees using newer safer equipment or is it the company that built the equipement being depreciated. Everyone benefits from lowered taxes and less government. |
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