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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (244463)	8/1/2005 5:21:24 PM
From: d[-_-]b	Read Replies (1) \| Respond to of 1575939

zofsilence, re:The loopholes shouldn't exist, of course. I can't really be upset for someone taking advantage of the loophole. I'm upset with those who want to leave it open when it has a negative impact on society. No one created this "loophole" on purpose - but how do you close this one? From Edmunds.com - edmunds.com But if you think all this results in is an expensive boondoggle (it could cost the U.S. Treasury $17 billion over 10 years) for fat cats looking for the government to subsidize their Escalades, how would you exclude SUVs from Section 179? Increase the minimum GVWR to 10,000 pounds? Even raising it to 6,500 pounds would eliminate the full-size pickup trucks that are the backbone of small businesses around the country and at 10,000 pounds most heavy-duty pickups would be ineligible. Conversely, the minimum weight requirement could be thrown out altogether and suddenly entrepreneurs will be declaring their Ferrari 360 Modenas as necessary business equipment. The tax code is rife with opportunities for abuse, and eliminating all of them would probably also entail giving up such beloved social-engineering (and realistically, politically untouchable) deductions as those for dependent children and home mortgage interest. Pushing the edges of the tax code is one of this country's great participant sports and, of course, some luxury, fuel-thirsty SUVs are going to wind up with their purchase cost deducted using Section 179. But should that mean your plumber isn't encouraged to replace his old pickup? Or that your dry cleaner shouldn't be nudged toward adding another Econoline to the delivery fleet?