Did you actually read it? Granted there is a LOT to read and I have spent
the better part of a week talking with a few different tax lawyers who
needed time to understand the changes. Basically, when a 'rich' person has
sheltered all the money they can and their accountant says they are about to
pay X amount of dollars in taxes, they need to spend that money. Before the
change they could spend up to $102,000 on an SUV and take a 100% right off
that year. That will piss some rich people off.
This also effects small businesses who can, and need, to buy vehicles for
work. They could also take the write off, which would HELP the average
middle class and HURT the 'rich'. Not all small business owners are rich.
Greg
-----Original Message-----
From: Marc Levy [mailto:malevy_nj@xxxxxxxxx]
Sent: Monday, November 15, 2004 3:08 PM
To: DMCForum@xxxxxxxxxxxxxxx
Subject: RE: [DMCForum] President, and Economy
I just looked up "Section 179", it regulates
deductions for business equipment.
How will this HELP the average middle class working
family? How will it HURT the 'rich' people?
--- timnagin <timnagin@xxxxxxxxxxxxxx> wrote:
> I think it is pretty obvious with the recent changes
> to tax law,
> specifically the Section 179 I mentioned, that he
> doesn't favor just the
> wealthy. That little change alone is going to piss
> a lot of 'rich' people
> off.
>
> Greg
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