This is weird. If I buy a lathe for my business, under most circumstances I most certainly CAN deduct 100% of its cost.
I think it’s about the R&D costs of developing and marketing the new and improved lathe.
I imagine the R&D costs in most businesses are pretty high and the costs are not 100% desirable.
The tax code is too Byzantine for me, I know very little of the business side of the thing.
I do know what we have is the result of generations of special interest add ons made by individual trying to get elected or stay in office.
Personally I think we need to tear it up, burn the thing and bury the ashes.
Start fresh with a new tax code written for the 21st century.