Fiscal Cliff Deal Reached!

There's a lot of blame that is rightfully aimed at Congress, but 1 thing people fail to realize is that "we the people" deserve probably as much blame as well. The fact is that these Congressmen and women didn't elect themselves into office; We did. This is what happens when people vote base on partisan demagogery and ignorance. This is the government we deserve. Originally Posted by TPJR

I am sure you just forgot to include The President in there.

NASCAR doesnt own the speedways

NASCAR can afford to pay for them.

NASCAR can afford to pay for them. Originally Posted by CuteOldGuy

investors buy the land and build the track just like any other business ... NASCAR is out of that loop

So because of that they deserve corporate welfare, CBJ7? Is that right?

So because of that they deserve corporate welfare, CBJ7? Is that right? Originally Posted by CuteOldGuy

thought you were pro tax cuts for business ... make up your mind

The NASCAR piece is not as big a deal as it sounds. It just allows them to depreciate expenses over 7 years instead of the more normal 15 + years. It reduces the taxes they pay now but it will probably make the taxes higher after 7 yrs since the deduction will be gone. So the only true cost is the time value of the money and If taxes go up in the future which is VERY possible it actually might cost them more.

My only problem is that they should follow the same rules as everyone else. These special exceptions for anyone need to go away.

The NASCAR piece is not as big a deal as it sounds. It just allows them to depreciate expenses over 7 years instead of the more normal 15 + years. It reduces the taxes they pay now but it will probably make the taxes higher after 7 yrs since the deduction will be gone. So the only true cost is the time value of the money and If taxes go up in the future which is VERY possible it actually might cost them more.

My only problem is that they should follow the same rules as everyone else. These special exceptions for anyone need to go away. Originally Posted by Laz

NASCAR has absolutely nothing to do with, or benefits one single $ from the tax cuts.

Its a business venture and completely seperate ...

Speedway Motorsports, Inc. (SMI) is an American corporation that owns and manages racing facilities that host NASCAR, IZOD IndyCar Series, NHRA, WoO other racing series. The company's headquarters are located at Charlotte Motor Speedway, in the suburbs of Charlotte, NC. SMI owns nine racing facilities with a combined seating capacity of approximately 885,000. In addition to operating racetracks, SMI owns PRN, U.S. Legends Cars International, and co-owns Motorsports Authentics.

The sequester was kicked down the road 2 months. The GOP won a $450K compromise. They are starting to call the next "crisis" the "Supercliff."

Spare me.

. They are starting to call the next "crisis" the "Supercliff."

Spare me. Originally Posted by gnadfly

The one after that will be the turbo supercliff!

Revenge of the Fiscal Cliff!

The one after that will be the turbo supercliff! Originally Posted by WTF

I haven't seen one penny of reduced Defense spending yet.

make up your mind Originally Posted by CJ7

We will have to locate it first!

I haven't seen one penny of reduced Defense spending yet. Originally Posted by Chica Chaser

Nor will you in two months! They will juggle the SS and Medicare numbers, which is just kicking the can further down the road.

I have no doubt who runs this country. It ain't the President or Congress or the military for that matter. It is the vast industrial military complex! It is like the plant in "The Little Shop of Horrors"!

http://www.youtube.com/watch?v=VsmngHziLrs

Nor will you in two months! They will juggle the SS and Medicare numbers, which is just kicking the can further down the road.

I have no doubt who runs this country. It ain't the President or Congress or the military for that matter. It is the vast industrial military complex! It is like the plant in "The Little Shop of Horrors"!

http://www.youtube.com/watch?v=VsmngHziLrs Originally Posted by WTF

In two months, spending cuts will have been forgotten about. Again.