Subject: [Spridgets] End of Road

From: "Wilson, Doug" <[email-masked]>
Date: Wed, 27 Feb 2013 09:55:03 -0500

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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