April 28, 2013

THE FICTIONAL NATURE OF ACCOUNTING:

Did Obama's $76 Billion Corporate Tax Break Pay Off? (BRIANNA EHLEY and JOSH BOAK, 4/26/13, The Fiscal Times)

President Obama has a less than stellar reputation with corporate America, but he gave businesses a sweetheart tax deal that tacked several billions of dollars onto the national debt.
 
As part of his 2009 stimulus package, the president tried to jumpstart the economy for part of 2010 and 2011 by letting companies deduct the full cost of new computers, machinery and office equipment--what accountants call "bonus depreciation" The plan halved the size of the deduction for 2012 and 2013, even though the results appear to be lackluster.

Posted by at April 28, 2013 8:41 AM
  

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