tag:blogger.com,1999:blog-6318055043707993918.post3697250027145493312..comments2024-02-20T02:12:18.090-05:00Comments on THE WANDERING TAX PRO: WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’ – WEDNESDAY EDITIONRobert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6318055043707993918.post-54903199947301092732010-11-13T12:03:54.269-05:002010-11-13T12:03:54.269-05:00Hi,
Regarding your reference to my post about the...Hi,<br /><br />Regarding your reference to my post about the Treasury report on the benefits of allowing temporary expensing of some business assets and your 2007 idea to allow expensing of depreciable real property. Perhaps we will get to that point if corporate tax reform takes the form of replacing the corporate income tax with some type of consumption tax such as a business activity tax (a form of subtraction method VAT). This has been discussed and proposed a few times,such as by Treasury under the second President Bush - http://www.treas.gov/press/releases/hp749.htm.<br /><br />Expensing of long-lived assets under an income tax is distortive and inconsistent with an income tax. It would make more sense if we had a consumption tax, such as teh BAT for businesses (see above link for short summary from Treasury).Professor Nellenhttps://www.blogger.com/profile/03288632402197167948noreply@blogger.com