Buy One ...
Get One Free ...
Posted on 04/08/2015 5:41:37 AM PDT by marktwain
The feral gangsters don’t pay taxes.
Agreed. My bad. See my other apologetic comment.
Great arbitrage opportunity—buy at, say, $700 or less for a low grade “assault” weapon, sell for $2000.
Principle of the matter for one.
For another, you will not make $1,500 or $2k.
You get a tax deduction, if you itemize, if you can and the net effect is only a reduction in “real dollars” or a “net present value” of $500 maximum.
No, it is tax *credit*, not a deduction.
You do not need to turn in a $500 rifle, or even a $150 one. A $50 stripped receiver will do.
Net profit, $1,950.
It is all in the article.
In reality, you do not even have to turn in *anything*. All you have to do is have some government official, at any level, give you a receipt for the tax credit. There is no recording requirement, no audits, no paper trail...
Or clever firearms owners looking to upgrade to a better rifle.
It says tax credit not deduction.
Please let this bill pass, I have two 3D printers and could use the extra cash.
/semi sarc
Conservative white males are the only people who pose a danger with “assault rifles” right? So this buy-back should really be limited to just conservative white males.
Further, it should be amended to $10,000 per weapon turned in.
A tax credit is worth 100%. This isn’t proposed as a deduction.
My bad, noted in two previous responses. I should definitely know better.
It makes the arbitrage possibilities even more absurd.
Buy One ...
Get One Free ...
Just posting pictures of Rosa DeLauro can accomplish that. She has "the look" down pat.
As a retarded dwerp, I would take advantage of this offer.
http://www.eparmory.com/Buy-Five-Get-One-Free-Black-p/buy5.htm
Six 80% lowers for $250. Six hours of work. Technically, I would have six “assault weapons” with a profit of $1957.50 per hour. I could do that daily for a month and make a huge profit, enough to arm all my reliable neighbors with high-quality semi-automatic sporting rifles and enough ammo to protect the Constitution and our neighborhood from all enemies, foreign and domestic. It would be the best use of FedGov money in my lifetime.
Didn’t see that.
Although, tax credits still require a deductible amount within your obligation.
The majority of filers do not itemize.
I pay enough taxes to fun two people so this could be an awesome deal to reduce my outright taxes and still make a profit.
Thnx for the clarification.
Still need to have a substantial obligation to reduce them by a profitable amount.
“But it also means that we can use the bill to show how insane and stupid anti-second amendment legislation and Democrat politicians are.”
That is a good point that may be missed by opposition campaigners. This is an ad for the opposition, too, if it is used correctly.
I'd take advantage of it in a heartbeat, turning in a $50 AR receiver or some other POS rifle for $2000 Obama Bucks! KA-CHING!!! And I'd use that $1950 in profit to get something really cool like a Springfield Armory Scout Squad or a DS Arms FN/FAL.
Sadly, this law has no chance of ever going anywhere.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.