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Section 174 was permanent, until the Tax act of 2017 pushed by the current President made them expire in 2022, under a different President. That was when the ma

Section 174 was permanent, until the Tax act of 2017 pushed by the current President made them expire in 2022, under a different President. That was when the market tanked and the Layoffs began. The current bill debated in congress that has the renewal of 174 also removes judicial protection against abuse of power. Enabling government employees to do as they please without having to comply with Judicial oversight. That would give dictatorial powers to the President. 174 needs to be restore without destroying this democracy. Keep that in mind when advocating to Senators.

Tetraslam 1y ago
I hope more people see this.
axus 1y ago
Reminds me of the military budget sequestration from 2011.
bloppe 1y ago
You'd think something as basic as judicial oversight would be protected by the constitution
- TylerE 1y ago
  The past few months have shown the constitution is just a piece of paper and not the magic solution y’all talk like it is. He who shall not be named is already ignoring orders from the Supreme Court (despite is being incredibly friendly to him).
  - bloppe 1y ago
    Well we're taking about legislation here. Obviously if the president is already ignoring the constitution then he doesn't need Congress to pass any bills giving him more powers
PeelingLayers 1y ago
The funny thing is the full write off in section 174 was pretty much the key to a bigger middle class. By repealing it, the president created an ailment that he will only cure if he can get himself dictatorial powers. It is really valuable to the US tech sector and it made it pretty obvious why Silicon Valley had to get into politics this cycle. The old 174 allowed all software engineering work to be deducted on year on - you put in effort you get tax offsets for future profits. If that effort fails you can get acquired and the value of your salary work becomes someone else’s valuable tax offset. Bigger picture it make VC returns a LOT BETTER, which makes startups more viable with more funding, which makes good outcomes more likely - jobs, public companies that grow retirement of Americans, etc. For public companies it’s also really valuable - Meta can reduce its massive taxable profit by hiring all potential startup founders who would otherwise become competitors and keep them on the books with non-competes in exchange for slowly vesting equity. By the time your equity vests you are in your thirties and in child-making mindsets and startups are less tempting. When 174 expired Meta became very very different financially with all that expensive labour they couldn’t write off anymore and they laid off huge swaths of it. Because of the high interest rates, those potential competitors would struggle to raise money anyway.

Tetraslam 1y ago

I hope more people see this.

axus 1y ago

Reminds me of the military budget sequestration from 2011.

bloppe 1y ago

You'd think something as basic as judicial oversight would be protected by the constitution

TylerE 1y ago
The past few months have shown the constitution is just a piece of paper and not the magic solution y’all talk like it is. He who shall not be named is already ignoring orders from the Supreme Court (despite is being incredibly friendly to him).
- bloppe 1y ago
  Well we're taking about legislation here. Obviously if the president is already ignoring the constitution then he doesn't need Congress to pass any bills giving him more powers

PeelingLayers 1y ago

The funny thing is the full write off in section 174 was pretty much the key to a bigger middle class. By repealing it, the president created an ailment that he will only cure if he can get himself dictatorial powers. It is really valuable to the US tech sector and it made it pretty obvious why Silicon Valley had to get into politics this cycle. The old 174 allowed all software engineering work to be deducted on year on - you put in effort you get tax offsets for future profits. If that effort fails you can get acquired and the value of your salary work becomes someone else’s valuable tax offset. Bigger picture it make VC returns a LOT BETTER, which makes startups more viable with more funding, which makes good outcomes more likely - jobs, public companies that grow retirement of Americans, etc. For public companies it’s also really valuable - Meta can reduce its massive taxable profit by hiring all potential startup founders who would otherwise become competitors and keep them on the books with non-competes in exchange for slowly vesting equity. By the time your equity vests you are in your thirties and in child-making mindsets and startups are less tempting. When 174 expired Meta became very very different financially with all that expensive labour they couldn’t write off anymore and they laid off huge swaths of it. Because of the high interest rates, those potential competitors would struggle to raise money anyway.