Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.2 9/18/84; site amdahl.UUCP
Path: utzoo!watmath!clyde!burl!ulysses!gamma!epsilon!zeta!sabre!bellcore!decvax!decwrl!sun!amdahl!ems
From: ems@amdahl.UUCP (ems)
Newsgroups: net.taxes
Subject: Re: Real Estate Taxes and Tax Reform
Message-ID: <1632@amdahl.UUCP>
Date: Fri, 7-Jun-85 14:21:55 EDT
Article-I.D.: amdahl.1632
Posted: Fri Jun  7 14:21:55 1985
Date-Received: Sun, 9-Jun-85 02:36:05 EDT
References: <257@mhuxv.UUCP>, <2404@mit-hermes.ARPA> <675@charm.UUCP>
Organization: Circle C Shellfish Ranch, Shores-of-the-Pacific, Ca
Lines: 23

> Real estate taxes on a rental property will be allowed, as
> will depreciation.  When considered with your other investment
> income, you can't loose more than $5k due to depreciation.
> 
Great.  So once again the wage slave gets stiffed.  So who
is going to have all this investment income that can be
offset by depreciation?  Why, the well to do investor.  And
who will have wage income that can't be offset?  Why the
grubby little wage slave trying to use the tools of the
rich to hang onto some of his money.  Why, we can't have
that, now can we.

Maybe I shouldn't be so negative, I havn't actually seen
a complete review of the effects of the 'tax reform'.  But
what I have seen tend to indicate that it is just one
more package to benefit the already rich.

-- 

E. Michael Smith  ...!{hplabs,ihnp4,amd,nsc}!amdahl!ems

This is the obligatory disclaimer of everything. (Including but
not limited to: typos, spelling, diction, logic, and nuclear war)