I play it on the steam deck, it works. The input is fiddly (though there are some impressive community input configs that use radial/grid menu popups from the touchpads to issue commands), but it does work.
Exactly. Seems like the US is pulling a PR stunt, most likely being a contraption of a whatever-congressman-and-his-friends with a plan to get richer, trapping nice kids into a yummy trap
too bad nothing like oink exists anymore, I remember being an early uploader of some interpol albums.
Also people just had great music tastes, you could go to any genre and sort and find heavy hitters you didnt know, who were amazing.
I hope you didn't fall asleep before reading the next two sentences:
"But even if owners ultimately repay the taxes they skipped, deferring payment of those taxes for years, sometimes decades, essentially amounts to an interest-free loan from taxpayers. An owner could reap huge gains by investing that money."
"If owners die while holding their stake, as many do, the tax savings may never be repaid. And their heirs can generally restart the amortization cycle anew."
These are each clear loopholes. The first sentence is about how time value of money matters when talking about billions of dollars. The second sentence gives you an idea of why it was so "important" to weaken the Estate Tax in 2017.
The first sounds like the government is encouraging investment in capital infrastructure leading to growth. This happens all the time and its a non-story.
I cant speak to the tax burden on inheritance, I know debts and expenses are often paid out of an estate first however.
Isn't this literally the same thing with the "jeff bezos isn't paying tax" story? He's not taxed, because the tax system doesn't tax on unrealized gains, and he'll eventually get taxed?
The definition of "unrealized gains" needs to be tightened, IMO, especially when used as security against "loans", or any other instrument used by the stockholder to otherwise gain liquidity without technically realizing the gains. Which is to say, there are convoluted transactions that are in effect selling shares, but the IRS doesn't presently classify as such.
Except for all the loopholes created to help people like Bezos to avoid "eventually getting taxed". Estate Tax laws are one area, trusts are another (they even call it the "Trust Fund Loophole"), non-profits are a third, carried interest is a fourth.
>Estate Tax laws are one area, trusts are another (they even call it the "Trust Fund Loophole"),
You can't combine both. If you use one you lose the benefits of the other, see my sibling comment.
>non-profits are a third
Sure, moving your wealth to a nonprofit is tax free. But then what? If you want to spend it (on personal stuff, not curing the word of malaria or whatever), you still get taxed.
>carried interest is a fourth
I skimmed the wikipedia article and it looks like it's just like ISOs, but for investment managers?
>The logic was that the non-financial partner's "sweat equity" was also an investment, since it entailed the risk of loss if the exploration was unsuccessful
==I skimmed the wikipedia article and it looks like it's just like ISOs, but for investment managers?==
If you are saying that investment manager inventives should be taxed as "performance-based compensation for management services", then you are arguing for it to be taxed as regular income. This is how bonuses are taxed for everyone else.
What would capture a lot of revenue from people like Bezos is to tax stock option gains, when realized, as regular income.
Then companies couldn't shelter their CEOs from tax by paying them mostly in options rather than salary. And the CEO would still care about growing the company so that their after-tax gains are maximized.
>And the CEO would still care about growing the company so that their after-tax gains are maximized.
but the strike price of such options have to be the market price (when they're granted). They can't give bezos options with $0.01 strike price when AMZN is trading at $3600[1]. In that sense, it already works like how you want it to work.
[1] well they can, but they wouldn't be ISOs and would be taxed at regular tax rates.
The article also goes on to state that the depreciation has a finite time limit.
The actual headline:
"Government providing depreciation that amounts to an interest free loan to billionaires in exchange for investing in capital assets" doesn't fit with the sensationalist nature of the piece
