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How is handing the government 6 dollars instead of 10 a redistribution by the government? The entire article is about using depreciation, which is an unbelievab
by ed25519FUUU 5y ago
How is handing the government 6 dollars instead of 10 a redistribution by the government? The entire article is about using depreciation, which is an unbelievably common tax strategy when you buy a depreciating item (tools, computers, cars, etc). In fact I’d say it’s used by nearly 90% of small and large businesses.
It’s definitely NOT something that only the rich know how to use.
- voisin 5y agoI wonder in this case if they are impairing goodwill (the price paid in excess of the book value of the physical assets) or if it is truly depreciating physical assets that need to be replaced in the future. If the latter, this is what all businesses do and makes complete sense, but if the former it is just a tax deferral strategy and in the future they’ll sell to another billionaire at a higher price and have to recognize the capital gain.
- anm89 5y agoWhen the government takes x percent of everyone's income but says that one class of people only has to pay .2x percent, it's a handout. For the people who understand this, understand how to leverage it, and have the resources to leverage it, it's the biggest handout of all time.