10-12-2017, 01:19 PM
(10-12-2017, 01:04 PM)Benton Wrote: Second home mortgage deductions. Free? No you have to buy something.
NFIP, which isn't intended to create lower cost flood insurance for beach front homes... but the end result is lower insurance for beach front homes. Free? nope
Yachts are tax deductible. Locally, in one county I cover (on a public access Army Corps lake), it will cost you about as much in taxes on a john boat as it does for a six figure power boat or house boat, thanks to a lower "luxury" rate. Free? Again no
Rental property. I don't take many of the deductions as I think it's ridiculous, but you can deduct most of your expense against profit. Free. Nope?
Gambling loss deductions.- No, only can take losses to offset winnings, so wrong again.
Farm subsidies. If you've got the investment up front, the USDA will basically pay for you to hold tracts of land and do nothing, or have them farmed. It's a long-term investment, but land only goes up in value. So if you own land you can avoid taxes on for 10, 20, 30 years, you can make a hefty chunk with virtually no taxes paid until you sell. Again requires a purchase and not free.
There are more examples, but at the end of the day, we've got a lot of ways of spending middle class money so people who can afford luxury items and investments can do so cheaper or with less risk. And, no, I don't think it's a cool story.
LOL
You have a major misunderstanding of free. Free cell phones and the call for free healthcare for some is free. You did not name 1 thing that is not available to every US citizen if they choose to spend money on those items.
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First 6 years BB - 41 wins and 54 losses with 1-1 playoff record with 2 teams Browns and Pats