Monday, September 27, 2004

A HORSING Subsidy For The Rich

Yes, that is what I said, a horsing subsidy not a housing subsidy. Anyone who purchased or leased a horse after Sept. 12, 2001, can now write off $100,000 in horse-related expenses each year. Under the law, horse owners can deduct food, stabling, transportation, insurance, veterinary care, and even local and state taxes for the animal.

The tax deduction was originally meant for businesses such as ranchers and farmers who need horses for operations, much as a production plant writes off machinery depreciation. But under the Bush Administration and the Republican Congress this was made available to non-businesses, individuals. Naturally this was aimed at people of wealth that have horses as pleasure since most people of lesser means don't own horses.

The rest of us own cats and dogs as our main pet. You can bet we will never see any types of tax deduction for our pleasure animals. Wouldn't it be nice if the rest of us could write off the purchase of our dog, the vet bills, liscence, etc. Wouldn't cat owners love to deduct the cost of transporting their feline, any insurance, food costs, etc.?

This horse subsidy is as well antithetic to supposed Republican values. If you should buy a horse you shouldn't expect the government to essentially help with the upkeep. I guess this is just a horse of a different color, the color of money. If you have alot of money, you can afford a horse and you can expect the government to help you write off the stable boy cleaning up the crap.


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