It was fun!...
by Kbyrnes (2024-02-23 14:07:07)

In reply to: I missed all the fun  posted by El Kabong


...A lot to be amused by. I understand the angst, and I agree that people need to take responsibility for their financial actions that might have unexpected reactions. Overall, I'm not a fan of this move by Biden.

Unfortunately, this leads me to think of all the far more gargantuan tax giveaways/sweeteners/what-have-you that benefit people who are fat and happy (and when I say "people," I include corporate entities that, per SCOTUS, are to be treated like persons at least sometimes).

For example, I can't tell you how many tax returns I've seen for appraisal clients who own small to middling-sized apartment buildings, where there is a healthy net profit until accelerated depreciation wipes that out, and you get to tell Uncle Same that you owe no tax on that rental profit because per the tax code (a/k/a "Through the Looking Glass"), you lost money.

The other amusing part was a commercial attorney here telling us that degrees that don't make you money due to their value in the marketplace are garbage. I have two garbage degrees, I guess. (Although I did actually make some money doing music transcriptions and more recently consulting on a few music plagiarism cases.)