Re: Drill Now for oil

Joel Koltner wrote:
"James Arthur" <bogusabdsqy@xxxxxxxxxxx> wrote in message news:x5cak.95$al3.55@xxxxxxxxxxx
Joel Koltner wrote:
"James Arthur" <bogusabdsqy@xxxxxxxxxxx> wrote in message news:_Hbak.161$713.132@xxxxxxxxxxx
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.


"Consumption" has to be defined, of course,
but those few rules would be far simpler than what
we have today.


Presumably you make your money with oscilloscopes and
computers, not driving. The first are investments, the
last is not.

Unless you want to argue your underwear are an
(in)vestment...

If the principal purpose is to generate extra
income, then it's probably an investment, AFAICT.

But the definition I offered isn't difficult--we use it
already.

Cheers,
James Arthur
.

Relevant Pages

  • The Fix Were In
    ... income shares to profits, away from wages and thus consumption, at the ... investment declined steadily through the 1920s even as industrial ... current account deficit and finance economic growth, ... I'll leave it to economists to argue over whether Livingston is right ...
    (misc.news.internet.discuss)
  • Re: Keynes versus Hayek
    ... Housing, commodities, and other sectors ... consumption and investment are not alternatives. ... We have massive unemployment BECAUSE of INCREASED productivity. ...
    (sci.econ)
  • Re: Keynes versus Hayek
    ... Housing, commodities, and other sectors with long ... consumption and investment are not alternatives. ... We have massive unemployment BECAUSE of INCREASED productivity. ...
    (sci.econ)
  • Re: Keynes versus Hayek
    ... consumption and investment are not alternatives. ... Wages will only rise after two or four quarters of improved cash flow to ... The increased productivity means that we can produce the STUFF with less labor. ...
    (sci.econ)
  • Re: RAISE THE MINIMUM WAGE TO $120 AN HOUR!!
    ... > No. Buying an Orange at the grocery store is not an investment. ... in real time) of higher consumption in the imagined future. ... My purchase of chess books is consumption. ... How Keynsean abstractions rebut the generality that value ...
    (sci.econ)
Loading