2 ms·
I mean, do you consider every tax deduction to be a subsidy? The standard deduction for all US families? Is paying anything less than 100% of income a subsidy?
by legitster 4y ago
I mean, do you consider every tax deduction to be a subsidy? The standard deduction for all US families? Is paying anything less than 100% of income a subsidy?
The US government has a very established tax code to specifically determine what amount of money it should consider taxable and to smooth out expectations. Claiming a deduction is not inherently a subsidy. Especially if you are a business and might lose 3x as much money in a year as you make to invest in long term growth.
If Oil and Gas have unfair tax advantages, that's a problem. These seem boilerplate.
- culi 4y agoSubsidy: > a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive. Yes, tax deductions (to businesses) are absolutely subsidies. It's the most common form of subsidization! > Especially if you are a business and might lose 3x as much money in a year as you make to invest in long term growth. This bill extends the amortization schedule from 24 months to 7 years. It's actually helping ease this burden. The rest of the clauses are removing what are essentially government handouts to oil and gas companies.
- matt_attack 4y agoUnless they get a tax refund from it, it absolutely is not a sum of money granted to them. In reality the government is simply just punishing all other businesses that can't take the same deductions. You might as well consider it a subsidy to you if your neighbor gets mugged.