Skip to comments."Assault Weapon" Tax Credit Bill would Encourage Manufacturers
Posted on 04/08/2015 5:41:37 AM PDT by marktwain
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Answer: The old media has the same blind spots, and protects her.
“Admittedly, even if the bill were passed, it is unlikely that more than a few million people would take advantage of it...”
Only retarded dwerps...
Hmm, the stupid and the ugly run strong in this one.
We used to lock lunatics like this up in an asylum. Now we elect them to congress.
I would probably buy a hi point just to turn it in if it could net me 1800 to guy buy a high quality rifle.
So, in the highest brackets a tax credit is worth roughly 35% (it can be up to 42% if you are in the 39% bracket and also get hit by the 3.8% investment tax).
Therefore, for a wealthy person, the tax credit is worth 700 to 800 dollars. I see an arbitrage opportunity to buy and “turn in” really cheap assault weapons. Will manufacturers and used arms dealers respond?
Say’s Law: Demand creates its own supply.
What would be retarded about making 1500.00 dollars or so then turning around and buying a better rifle with the profit.
It is not like the rifles turned in can’t be replaced.
Or do they need them for future Babi Yars?
Babi Yar: Killing Ravine of Kiev Jewry WWII
No. It is a tax credit, not a deduction. It would reduce your taxes by $2,000, not your taxable income by $2,000.
Oh. You’re right. It will never pass, but it’s so generous, it sets up a arbitrage opportunity for everyone.
$2000 assault rifles are the top of the line.... cheaper ones could be bought and turned in for a large profit!
+1, my thought exactly.
They can stamp out some cheap AK-47s pretty quickly.
Sell them at $400, get the $2000 tax credit, rinse and repeat.
Criticizing this bill as ignorant or just plain stupid is missing the point. The sponsors don’t face any personal risk of backlash—their voters are of the same mind. It won’t cost them any money—they are simply spending others’ money which is SOP. The sponsors don’t even care if the bill is taken seriously—it will not be taken seriously by Congress.
This is the fundraising season for the 2016 elections. Deep-pocketed leftists are being sent a signal that gun control and the accompanying human rights violation are still big issues with the Dems. The pleas for donations will point out how even sensible gun control is being blocked by the NRA and opposing politicians. You (deep pocketed leftist or spouse of same) must donate $$ to us so we can win the fight. This is a fundraising ad, not a piece of legislation.
ah ah ah!
This is a tax CREDIT, not a tax DEDUCTION.
Your calculations are for a tax deduction.
If it’s a tax CREDIT, it’s as good as a check from the IRS. A credit means they... well, credit your account with the $2k as taxes already paid.
OK, so they give me $2000 tax credit for each “assault” gun. What’s to stop me from buying 10 or 50 or 100 of them for $500-1000 each and turning them in for $2000 each off my tax bill?
“This is a fundraising ad, not a piece of legislation.”
That makes the most sense of any explanation that I have heard. But it also means that we can use the bill to show how insane and stupid anti-second amendment legislation and Democrat politicians are.
Holy smokes....gonna pull out my 80% AR alum. blocks and drill them out if this bill passes.
Then I’m going back into my cut up receiver piles and reweld them after paying ATF $200 transfer tax for a post 86 gun and turn them in and make $1800.00
I like this bill already!
The Federal teat gets bigger...
Abuse of Federal power will never abate if the spigot is left wide open.
“OK, so they give me $2000 tax credit for each assault gun. Whats to stop me from buying 10 or 50 or 100 of them for $500-1000 each and turning them in for $2000 each off my tax bill?”
The bill limits the tax credit to one per person.
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