Utterly Meaningless » Blog Archive » DOG BITES MAN

    Filed at 2:58 pm under by dcobranchi

    One News Now is full of shit. The write downs that Deere and Caterpillar are taking are due to a closure of a ridiculous tax loophole that allowed them to write off as an expense money they weren’t spending. FASB rules require that they account for the change in their 10-Q. So they did. But it’s not real money, and it’s certainly not money that they should have been able to count as income. But ONN (full of shit!) wants to play games.

    And small businesses were NOT eligible to take advantage of that particular loophole. If anything, reform helps level the playing field for them.

    2 Responses to “DOG BITES MAN”

    Comment by
    April 5th, 2010
    at 10:53 pm

    It shouldn’t be so hard to get simple facts straight, if there’s still any role for reality in modern life . . .

    Comment by
    April 6th, 2010
    at 5:13 am

    The assumption, JJ, is that they WANT to get their facts straight. I’m pretty sure they don’t. Their goal is to keep the teabaggers/Christianists angry until November.

    Reality be damned.