Much as I own the mineral rights to my property. There have been gas wells
all around north Texas, harvesting natural gas. 5 or 6 years ago, I signed
a lease, and was to receive a portion of the revenue, when they started
drilling. They have not started drilling yet, BUT, I am being taxed every
year, on POSSIBLE income, that I am not receiving.
What a line of SHIT this is...
On Wed, Feb 27, 2013 at 8:55 AM, Wilson, Doug <dwilson@eatechnical.com>wrote:
> Actually if you own a business that requires tangible assets
> (equipment/infrastructure) or is growing, you can be responsible for taxes
> on "cash" that you do not have. This may be a little difficult for the
> politicians or academics to understand , but it does result in fewer small
> and middle sized companies in the US and lower job growth. When money was
> easy and banks were lending this was not a major problem for the people
> that were willing to take the risk, but now that banks have been converted
> into "utilities" it is a pretty big deal. The pain is magnified if you pay
> taxes on an accrual basis and you are growing. On the other side of the
> coin some of the temporary measures help with accelerated depreciation, but
> it is pretty scary to build a business plan around temporary measures
> especially when you have a POTUS that is clueless and disinterested in
> business and commerce. Milton Friedman (Nobel Lariat) wrote some pretty
> books on this subject.
>
> It's ironical that a blog that is devoted to British cars is discussing
> this; the British tried all of the measures that we are currently adopting
> many years ago and proved without a doubt that it doesn't work. They went
> from being a world leader to a basket case and while Thatcher was able to
> slow the decline, the country really never recovered.
>
> --
> Doug Wilson
>
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