Posted on 04/06/2015 10:40:22 AM PDT by jazusamo
They will not let you take it off your total taxes owed, you will be allowed to subtract it from the Adjusted Gross Income line and thus you will just get a small percentage knocked off the total tax line at the end.
Cordially,
Put up that pic Kart!
Outstanding FReepathon graphic, SWAMPSNIPER!!
My gr,gr,great uncle Abraham made the rifle, I’ll admit to being proud of him.
I don’t blame you for being proud of him, that rifle is beautiful.
He was a very talented gunsmith and craftsman.
Thanks again and I saved your graphic!
“I am not our father.”
With $2,000, you’d be better off with an AR-10.
I read the bill. You have to be especially insane to introduce or co-sponsor such legislation. You have to have zero understanding of economics.
The bill grants flat $2,000 tax credit for one “assault weapon” as defined in the bill. You get $1000 tax credit the first year, and another $1,000 tax credit the second year. The firearm has to be legally owned.
A Hi-Point carbine qualifies. You can buy lots of them for less than $300 each.
Any rifle with a detachable magazine and a forward grip qualifies. A Savage .22 can be had for about $119 retail, and a qualifying forward pistol grip added for a piece of broomhandle and some duct tape, or likely as an aftermarket accessory for $9.99.
A *receiver* for named rifles qualifies, so you can buy stripped lower AR receiver for $50... and it qualifies.
Talk about another boon for gun manufacturers.
This legislation practically begs you to buy a cheap, new, qualifying firearm (so you can prove legal possession) and turn it in for $2,000 in tax credits.
“It means you get to claim $2,000 of your taxable income.”
No, you misunderstand it. I read the bill. It is not a deduction. It is a direct tax credit. If you own as much as $1,000 in a year, it is like free money.
These people really are this economically ignorant.
Yes, I know, hard to believe.
And, yes, an AR-15 receiver qualifies. A stripped on costs about $50.
This bill will never pass. Not even a majority of congressmen are this insane.
own should be owe
What if I only have a low-powered assault rifle? Is it a percentage of the whole amount or what?
Does anyone ever tell the mentally ill the truth about their condition to their face?
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