RE: [DMCForum] President, and Economy

["timnagin" <timnagin@xxxxxxxxxxxxxx>]

>It will piss off rich people to spend the $102,000 on
>a SUV, and deduct 100% of it??  I think I am missing
>something.

No, that was the previous rules.  Now you can only deduct $25,000 plus 30%
of the additional amount instead of $102,000.


>Again, don't see how it hurts the rich..  Lots of
>"self employed" people driving around Hummers because
>it qualifies for the deduction.  I'll take a 100%
>deductible truck too, but I would first have to earn
>enough in one year to pay for it!

It 'hurts' the rich because now they have lost a deduction.

You don't have to pay cash for it or pay it all off in the year you bought
it.  You can still finance it for however long you want and take the full
deduction the first year.  This only effects SUV's not trucks.  Ironically,
there is a new Hummer out that has a truck bed on it.

Greg

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