Re: Drill Now for oil

"James Arthur" <bogusabdsqy@xxxxxxxxxxx> wrote in message
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Joel Koltner wrote:
"James Arthur" <bogusabdsqy@xxxxxxxxxxx> wrote in message
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Is it used to produce income? Then it's an investment.
No? Then it's consumption.
So my buying a new car to drive to work is an investment?
Not according to the IRS. (Unless you're a taxi-driver.)

Yeah, I didn't think so. So presumably that would change as well or else the
"simply tax consumption" idea is going to start growing warts and become full
of exclusions and deviations from the rule.


.

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