Re:‘Stealth bailout’ shovels millions of dollars to oil comp...
by vmception on Friday May 15, 2020 @07:21PM
(#23198659)
eh this just temporarily reinstates the prior tax code before the 2017 Tax act changes.
The 2017 law removed the ability to carry back net operating losses, only leaving carry forwards. We had carry backs for at least 3 decades.
The CARES Act temporarily reinstated carry backs. I think it is disingenuous to say thats a problem, when its more normal than anything else that has happened.
Regarding how it was sold for the "little guy", who cares? Like imagine being that naive not to notice that everything gets consensus in this country by catering to the constituents that can gain consensus. Consensus needs numbers, you don't sell a bill by saying "in this esoteric accounting standard that you will never encounter, we need to make a rule change regarding carrying losses to encourage growth ACT", you cater to things most people will encounter, and that the representatives of those people will relate to, and get phone calls and emails from their people about.
I take social cues from other people, so I can tell I feel differently, as in feel nothing, from this. But I think you should too.
The 2017 law removed the ability to carry back net operating losses, only leaving carry forwards. We had carry backs for at least 3 decades.
The CARES Act temporarily reinstated carry backs. I think it is disingenuous to say thats a problem, when its more normal than anything else that has happened.
Regarding how it was sold for the "little guy", who cares? Like imagine being that naive not to notice that everything gets consensus in this country by catering to the constituents that can gain consensus. Consensus needs numbers, you don't sell a bill by saying "in this esoteric accounting standard that you will never encounter, we need to make a rule change regarding carrying losses to encourage growth ACT", you cater to things most people will encounter, and that the representatives of those people will relate to, and get phone calls and emails from their people about.
I take social cues from other people, so I can tell I feel differently, as in feel nothing, from this. But I think you should too.