Was watching the news, talking about the bailout package. They listed the "Pork" introduced in the re-worked bill.... "Automobile race tracks" tax breaks worth $128,000,000.
Was watching the news, talking about the bailout package. They listed the "Pork" introduced in the re-worked bill.... "Automobile race tracks" tax breaks worth $128,000,000.
Last edited by racer27; 10.03.08 at 10:08 AM.
AMBROSE BULDO - Abuldo at AOL.com
CURRENT: Mid Life Crisis Racing Chump/Lemons Sometime Driver (Dodge Neon)
CURRENT: iKart Evo Rotax 125 Kart
GONE: CITATION 87/93 FC - Loved that car
GONE: VD RF-85FF , 1981 FIAT Spider Turbo
Yes, I heard that too last night
Wonder which tracks outside of NASCAR are getting dollars or, what it goes for?
There is someplace on the web where you can look at the details of the bill. Maybe more detail in there? And, WHO put it in? I want to move to his district
CREW for Jeff 89 Reynard or Flag & Comm.
http://www.miamiherald.com/news/poli...ry/711014.html
Chuck Schumer was the sponsor...
Sean
Shumer.. BARF!!!
But as usual misrepresented. This is NOT a tax break at all.
It's a capital investment incentive that puts pavers, carpenters, plumbers and other trades to work. Accelerated depreciation encourages investment in real property and assets plus, it generates more cash to do the capital improvements.
In the long run, it's revenue neutral. Paying less taxes over the first 7 years leads to paying more taxes over the next 7 years.
And why shouldn't race tracks be considered the same as amusement parks or entertainment complexes? As usual, an attempt to misinform the public.
CREW for Jeff 89 Reynard or Flag & Comm.
Thanks for posting that link, Sean.
It's a shame that someone thought, hey, here's something in the plan that we can use to inflame people. I hate misleading information and we're slammed with it every day.
At least the plan is public for people to see, and it's good to attach a sponsor's name to an add-on. There should be more transparency.
Racer Russ
Palm Coast, FL
There are currently 1 users browsing this thread. (0 members and 1 guests)