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Cake day: July 16th, 2023

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  • It was always short sighted tax policy. We’re just living with the blowback.

    But in 1954, apparently intending to stimulate capital investment in manufacturing in order to counter a mild recession, Congress replaced the straight-line approach with “accelerated depreciation,” which enabled owners to take huge deductions in the early years of a project’s life. This, Hanchett says, “transformed real-estate development into a lucrative ‘tax shelter.’ An investor making a profit from rental of a new building usually avoided all taxes on that income, since the ‘loss’ from depreciation canceled it out. And when the depreciation exceeded profits from the building itself—as it virtually always did in early years—the investor could use the excess ‘loss’ to cut other income taxes.” With realestate values going up during the 1950s and ’60s, savvy investors “could build a structure, claim ‘losses’ for several years while enjoying tax-free income, then sell the project for more than they had originally invested.”

    Since the “accelerated depreciation” rule did not apply to renovation of existing buildings, investors “now looked away from established downtowns, where vacant land was scarce and new construction difficult,” Hanchett says. "Instead, they rushed to put their money into projects at the suburban fringe—especially into shopping centers.

    http://archive.wilsonquarterly.com/in-essence/why-america-got-malled






  • OldWoodFrame@lemm.eetoScience Memes@mander.xyzImplications
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    1 month ago

    Hawking gets a Covid sample from a time traveler in 2009 and immediately travels to the Wuhan lab to study it and look for a cure, he successfully delays the pandemic and he almost gets to a cure but a bad guy time traveler comes to kill him in 2018 and without the watchful eye of Stephen Hawking, the world falls to chaos.

    I’d watch that movie.







  • OldWoodFrame@lemm.eetoScience Memes@mander.xyzChicken vs Egg
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    2 months ago

    I don’t like this because it’s not addressing the actual saying. Obviously the saying is about chicken eggs specifically.

    But I’ve always felt obviously the egg came first. The first chicken was born in an egg, so the egg came first. That egg could have been produced from a creature with a mutation which caused it to produce the first chicken egg when it is not itself the exact same species.





  • What does it even mean “one less account to track?” The money is still coming from a bank account, if you track the money in your account you would still have to account for a check, and it would be even worse if the check isn’t cashed right away.

    Is it that you don’t have the monthly credit card bill if you send a check? But you’re spending the same amount of money regardless, checks are more like one-off credit card transactions, that don’t confirm payment like a credit card does. Checks are worse for the payment-neurotic. That’s maybe an argument for debit cards, it’s not an argument for checks.