The latest group of the evil rich, according to the democrats, apparantly are thoroughbred race horse owners. Democratic Senator Markely from Oregon brought this up and personally attacked Sen. McConnell for getting this through in a 2008 farm bill. Of course, he fails to mention that the bill was passed by a majority of democrats in both the house and the senate. Darn convenient to forget that.
But that is not the point, the point is, apparantly race horse owners are another group that is the evil rich. But guess what, I have known a lot of race horse owners, and none of them have been millionaires. Yes, the owners of Kentucky Derby entrants are usually millionaires (except for the horse that won a few years ago that was owned by a syndicate of average Joe's). I would estimate that the great majority of race horses are owned by that 95% of people who aren't supposed to be getting tax increases, usually in syndicates or partnerships. But apparantly, just as corporate aircraft owners are, race horse owners are greedy rich.
And guess what, repealing this democratic party passed piece of legislation will save a whopping $126 million, over 10 years. That's even less than the estimated $3 billion that eliminating the ability for corporations to depreciate jet aircraft. The combination of the two, assuming things remain static, will account for less than 1/10 of 1% of the current deficit, much less future, but are being used to demonize certain people and engender greater class warfare.
The president, and the democratic senate, are demagogueing extrememly trivial issues (when it comes to the economy) to drive a bigger wedge into the divide between the American people than there already is. Rather than joining in productive discussion, they are getting on their soap boxes, the bully pulpit in the case of Obama, spending time on minutia, all for political gain.
OK, the republicans have been guilty of this, but, the President has repeatedly stated that he was above this and would not stoop to those divisive tactics. He said so just the other day. Of course, within seconds after stating that he immediately went into a diatribe against the republicans and overall fear mongering.
Will this change in depreciation schedule have a huge impact on the horse racing industry. Probably not. But will some be affected negatively, that is, some other than the evil millionaires and billionaires? Probably so. There will more than likely be a few non-millionaires that don't get into it, a few syndicates that arent' formed. There might be a few hundred horses aren't put into the program. A few trainers that make a bit less money. And maybe a few grooms and stablehands that get laid off. Not enough to even notice in the employment figures. But these lawmakers need to understand, their rhetoric, and their actions (or inactions) have consequences.
So why not just agree to make proposals rather than attacks. To engage in discussion rather than demagogueing? Your constituents deserve it. The future of America requires it.
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