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Coyoteblog Profile picture
@Coyoteblog
Sep 29, 2020 • 4 tweets • 1 min read • Read on X
I know zero about the details of Trump's taxes. But it is perfectly possible to use the tax code exactly as Congress intended & pay little or no tax for years on strong cash income. One common reason is reinvesting profits with accelerated depreciation
coyoteblog.com/coyote_blog/20…
"This is what everyone is calling a "loophole" but I think that is a misnomer. "Loophole" implies people are taking advantage of some drafting error or unanticipated use of an IRS rule. That happens all the time, but our example is not an unanticipated use. "
"In our example we are using IRS rules exactly as Congress intended -- the company is being rewarded by Congress for the investment it made in new equipment with a multi-year tax deferral."
Again, this is not meant to be a comment on what Trump has done, because I don't know what he has done. But it is incorrect to say that it is inherently illegal to pay no taxes on high cash operating income. It is perfectly, legally possible.

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More from @Coyoteblog

Coyoteblog Profile picture
Aug 29, 2023
Public Service Message: I have ridden roller coasters all over the world, and the relatively new Velocicoaster at Universal Orlando is the best I have ever ridden. At my son's urging I went there for a day solely to ride that ride and I was not disappointed
It is not the highest and does not have a huge drop. It does not have a crazy gimmick like the 400 ft straight up launch of top fuel dragster in CP. It is just awesome. Every turn and move I have ever heard of in a coaster.
It has numerous inversions, including a stretch where you cruise upside down, without a shoulder restraint, only an advanced lap bar. The real highlight is the mid-ride launch -- amazing technology. And no G force sickness like I get on rides like I get on Magic Mtn Goliath
Read 4 tweets
Coyoteblog Profile picture
Jul 24, 2022
I wondered last year what the long-term plan was in NZ and Australia with a zero-COVID strategy that made no sense given that it could not be maintained in a (now semi-)free society forever. Apparently there was none.

dailymail.co.uk/health/article…
Here was the original of what I wrote

coyoteblog.com/coyote_blog/20…
Atlas Shrugged rightly gets grief with its awkward characterization, but don't think of it as a novel -- think of it as a paper-based simulation that takes socialist-statist ideas and says, "let's trying running these to their conclusion."
Read 7 tweets
Coyoteblog Profile picture
Jun 8, 2022
I have always felt that "believe all women" was an absurd overreach, an exhortation no rational, observant person should be willing to accept as a general rule. The proper statement, imo, was and is "take women seriously"
There is a real problem that needed to be solved. Various law enforcement bodies often did not take accusations of sexual violence seriously, patting women on the head and sending them on their way. This case was a great example

wsj.com/articles/gymna…
"The report found that FBI agents in Indianapolis—who received an initial visit from USA Gymnastics to report Nassar on July 28, 2015—didn’t take the claims seriously, document the evidence they received or transfer the allegations to the FBI’s resident agency in Lansing, Mich. "
Read 7 tweets
Coyoteblog Profile picture
Jun 8, 2022
This is the sort of "common sense" market intervention that technocrats love but of which I am really suspicious

engadget.com/eu-reaches-dea…
Here is one reason why: Maybe 15 years ago, when cell phone power cables were power only, there was pressure for government to do this same thing, to mandate one standard among a variety of barrel power-only connectors.
But had they been successful, where would we be today? Technology has moved fast and the cell phone power connector is for more than power, it is also a data connection (less important today in the days of wireless but critical in early smartphone development).
Read 7 tweets
Coyoteblog Profile picture
Jun 6, 2022
This is simply madness -- with a looming worldwide shortage of cereal grains (due to Ukraine war and other factors) and the real potential for famine later this year, Biden mandates that more food be burned in cars

zerohedge.com/political/bide…
I can't tell if this is bad energy policy -- since every study not funded by ADM has shown zero to negative fossil fuel savings from corn ethanol. Or if it is pandering to the midwest corn lobby ahead of this election.
Whatever the motivation, it feels like a policy decision from the last third of Atlas Shrugged -- chasing the political problem of this moment (eg gas prices) at the absolutely predictable expense of the political problem of the next moment (food prices and grain shortages).
Read 6 tweets
Coyoteblog Profile picture
Apr 18, 2022
If we forgive student loans, it should come with an admission that the product was so entirely flawed that a 100% refund is warranted. And then everyone who paid cash should also be fully refunded. And then we should shut down all the suppliers of the product as a scam business.
Seriously, why else would be be talking about giving full refunds to people unless there was an implicit assumption the value was entirely missing? In other product liability situations we give folks like a 50-cent coupon. We are talking here about $200,000 refunds!
And why, having acknowledged this sort of systematic product failure, would we then allow the product to continue to get sold in the same way at the same prices to a whole new generation of suckers?
Read 4 tweets

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