01-02-2013 07:50 AM
Some tax increases and ZERO spending cuts. Once again our Republican leadership shows its inept ability to negotiate. Taking a all or nothing attitude.No Farm bill, didn't have time to look at that. Did keep the dairy farmer from getting any more for their milk. The only sure thing here is more drama in two weeks when the debt ceiling needs to be addressed. They love to see there faces in the media. They could have settled for tax increases and some spending cuts 18months ago avoided the drama and market maniplulation. Congress did get their pay increase, and they are on their own health care and retirement plans.
01-02-2013 07:58 AM
worried about deduction changes or lack thereof... sec 179 .. excelerated depreciation... capital gains as it relates to livestock, dividends, stocks, land price basis.. expense deduction changes... no one seems to know crap!
01-02-2013 08:41 AM - edited 01-02-2013 08:42 AM
pe-50 - Probably going to have to start recognising sales of feeder steers as Ordinary Income and stop taking capital gains on your feeder cattle when sold to the packing house. LMAO! John
01-02-2013 08:44 AM
I actually thought we were going to actually do something to reduce the deficeit, what a fool I was! Wish i could run my business by borrowing with no intention of ever paying back and to top it all off by being congratulated on a "job well done". I think this is a result of the welfare state in America, too many receiving money to turn accountable in Congress.
01-02-2013 08:54 AM - edited 01-02-2013 08:55 AM
well don't forget to give yourself a pay raise and pat yourself on the back while stabbing everyone else in the back for doing the "best we can"