by definition, net is what is left after taxes.
but you knew that, right?

Federally true. State and local, not so much. Try looking up B&O taxes.

point

"by definition, net is what is left after taxes.
but you knew that, right?"

It's called a Net Income Tax but yes that is my bad. You are taxed on Earnings. Nothing gross about it though.

Gross - corp welfare = earnings - tax = net income

"Corporate welfare is a pejorative term describing a government's bestowal of money grants, tax breaks, or other special favorable treatment on corporations or selected corporations. The term compares corporate subsidies and welfare payments to the poor, and implies that corporations are much less needy of such treatment than the poor."

Biggest idiot award to FP who happens to have no skin in the game.

"Ordinary and necessary business expenses aren't special favorable treatment."

Can an individual depreciate their residence on their 1040? Car? Boat? No. An individual cannot depreciate anything. Why should a business be able to? Yes it's part of "common accounting pratices" but it's time we ask why? I don't owe you depreciation on anything. In reality depreciation is an accounting gimmic. Remember Corps are people now so let's start treating them like it.

Myself I am a Senior Engineer in one of the worlds largest conglomerates. I have a BA in Finance and a BS in Comp Sci. Been a long time since my accounting years and I made a few mistakes in this thread simply because I don't take the time to go back and look it all up. But you didn't notice them anyway. You see depreciation as a deserved write off. I see it as a long standing accounting gimmic that rips off the taxpayer. But then I am for a flat tax no deductions. In your case that would mean you buy your houses using your dime and rent them out. That's it. You are taxed on the rents. Expenses are your problem not the taxpayers. A truly free market. You can do what you want as long as the taxpayer isn't funding it. Radical idea. Right now I'm listening to MCKenna talking about people gaming the system. That's what has happened with deductions. A colossal gaming of the system. What you do.

Why do you dislike rich and poor people, FP?

Did they do something to offend you?

Are you sure you don't hate everyone...........other than yourself, I mean.

That brush it pretty broad, don't you think?

FP I would have to agree with your poor people statement but to just sit at your Key board and rant on about morals ant ethics and [Bleeeeep!] on people like me who served their country worked my [Bleeeeep!] off for 40 years and say I don't deserve any respect you really are a tool period, how many section 8 renters do you board!!!PEACE

what I want to know is why flossing is considered snagging when it's legally hooked??

Noted, and also have paid my share and don't mind paying more if it would benefit the good of USA and my grandkids, and I still work full time just because I like to not that I have to,I love my country especially after having spent alot of time in 3rd world countrys.
I would love to see the interpolitical bickering end and everyone share in admitting to causing and solution's to our financial woes but I'm sure eventially I will go to my grave and this debate will still be going on!!!PEACE

Wow I haven't seen the word 'hate' used so much since Webo, oops I mean 4Salt went mute.

16 pages, and I still haven't seen a viable answer to Dave's initial question. So, how will cutting federal spending both help the economy and reduce the federal deficit?

Only one exception, Bush was a hero for doing what had to
be done. Now that oughta stir the hot used hay.

No nasty names FP, as you've made a rather valiant effort of running in circles 'round the underlying issues. Perchance your *solution* is too far down stream from a better answer to Dave's original query. Try considering what comes out of the horses mouth rather than what comes out of the back end. How does your answer propose to reduce/retire the federal debt service (principal + interest)? Ya seem to have left that variable out of your alphabet calculus....

Perhaps a federal lottery like a USA Powerball. It seems that's the only way to get a regressive tax to work...of course EBT cards would be an acceptable form of payment for such.

Let's just allow the Federal Government run casinos under the same regulations and taxation as the tribes do. There would have to be the obligatory senior buffet, but that would help the government recover SS payouts and fund the program for years to come.

Between the lottery and the casino idea I bet the deficit would shrink overnight.

In spite of all the easy answers here none that I have seen are both possible and passable. (Elimination of the TSA, while an attractive fix would reduce the deficit by less than 1 %.) Remember the game I posted where you could try your hand at balancing the budget. It's waaaay harder than many think.

The truth is no one likes a tax increase; no one likes their benefits/entitlements cut. The primary flaw in democracy is that our politicians are on the one hand trying to buy our votes by proposing great sounding new programs and are on the other hand completely beholden to the ultra wealthy that pay for their campaigns.

I believe this will be the worst election ever in terms of blatant purchasing of elections. Remember all those unions, corporation and casino owners expect something for their investment and that something it typically NOT in the national interest.

We were on a damn rough road before the Supremes decided corporations are people. That decision may do us more harm than any other on a very long time.