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Danforth

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Monday, April 28, 2025

Elon Musk's Department of Government Efficiency, or DOGE, says it has saved $160 billion through its push to root out wasteful or fraudulent government spending. But that effort may also have come at a cost for taxpayers, with a new analysis from a nonpartisan research and advocacy group estimating that DOGE's actions will cost $135 billion this fiscal year. read more


Monday, April 21, 2025

In the latest example of altering figures on the agency's website, staffers at DOGE seemingly updated its claimed savings overnight on Tuesday, erasing approximately $962 million, according to NOTUS. read more


Wednesday, March 05, 2025

Elon Musk has called Social Security a "Ponzi Scheme", unwittingly admitting he doesn't know the definition of "Ponzi Scheme" read more


Comments

"I will give you an out - post the individual provision in the Trump tax cuts that has expired."

From the business roundtable:

Expired on December 31, 2021:
Full Expensing of Research and Development (R&D) Investments
` As of 2022, businesses are required to expense R&D investments over five years rather than in the same year
the investments occurred, which is a damaging departure from 70 years of bipartisan pro-innovation policy.
` The U.S. is now one of only two developed countries without immediate expensing for R&D.
` China is doubling down on incentives to bolster R&D, while the U.S. is making it more expensive.
` More than 10,000 American jobs will be lost each year over the next decade without immediate R&D
expensing.
Expired on December 31, 2022:
Full Expensing of Investments in New Equipment, Machinery and Technology
` Starting in 2023, businesses can only expense 80% of investments in new equipment, falling to 60% in 2024,
40% in 2025, 20% in 2026 and eliminated completely in 2027.
` The elimination of full expensing discourages domestic investment, limiting opportunities for businesses
and workers in the U.S.
` Full and partial expensing has been in the tax code for 21 of the past 23 years and supported by Republicans
and Democrats.
` Permanent full expensing would create 73,000 American jobs.
Expired on December 31, 2021:
Limited Interest Deduction on Earnings Before Interest, Taxes, Depreciation
and Amortization (EBITDA)
` As of 2022, the business interest deduction is restricted to 30% of a company's earnings before interest and
taxes (EBIT) rather than EBITDA. This is a tax increase.
` Switching from EBITDA to EBIT makes it more expensive for businesses to invest in America, resulting in
slower job creation, smaller wage increases and lower overall economic growth.
` The U.S. is now an international outlier on business interest deductibility, with no other developed country
basing the deduction on EBIT.
` Returning to an interest deduction based on 30% of a business' EBITDA would create nearly 10,000
American jobs.
1. 2. 3. Ernst & Young (2019, October). Impact of the Amortization of Certain R&D Expenditures on R&D

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