H.R. 226 - "Assault Weapons" Tax Break

[IPv6]

Introduced on 1/14. And to be clear, they are NOT after our weapons..

``(1) In general.--In the case of an individual who
surrenders a specified assault weapon to the United States or a
State or local government (or political subdivision thereof) as
part of a Federal, State, or local public safety program to
reduce the number of privately owned weapons,"


http://beta.congress.gov/bill/113th-con ... l/226/text" onclick="window.open(this.href);return false;

http://www.latimes.com/news/nation/nati ... 5943.story" onclick="window.open(this.href);return false;

[anygunanywhere]

Introduced on 1/14. And to be clear, they are NOT after our weapons..

``(1) In general.--In the case of an individual who
surrenders a specified assault weapon to the United States or a
State or local government (or political subdivision thereof) as
part of a Federal, State, or local public safety program to
reduce the number of privately owned weapons,"


http://beta.congress.gov/bill/113th-con ... l/226/text" onclick="window.open(this.href);return false;

http://www.latimes.com/news/nation/nati ... 5943.story" onclick="window.open(this.href);return false;

Where is that face-palm smiley?

Anygunanywhere

[RPB]

ok it's a silly bill, won't pass, but I almost wish it would ....

If I read this right, I can buy several $500.00 AK-47s and turn in to Govt for $2,000.00 Tax credit each
So, if I WAS ONLY GOING TO BUY 5 AK-47s .... I would instead buy 10 more AKs, turn in 5 AKs and keep 5 ... I reduced the number on the street by 5<<<(Liberal Logic) and made money.
The Govt then can pass them onto a drug cartel and I'll be glad I kept 5 later and my "Govt Money" will pay for Ammo.

[AEA]

They have no clue!

I guess they don't realize that Criminals do not pay taxes. So, again they are going after the Legal Gun owners.

[TexasCajun]

ok it's a silly bill, won't pass, but I almost wish it would ....

If I read this right, I can buy several $500.00 AK-47s and turn in to Govt for $2,000.00 Tax credit each
So, if I WAS ONLY GOING TO BUY 5 AK-47s .... I would instead buy 10 more AKs, turn in 5 AKs and keep 5 ... I reduced the number on the street by 5<<<(Liberal Logic) and made money.
The Govt then can pass them onto a drug cartel and I'll be glad I kept 5 later and my "Govt Money" will pay for Ammo.

Except that the $2000 tax credit only amounts to $100 in real money.

[dave_in_austin]

If it is really a tax credit, it is $2k to use to pay your taxes. This is not the same as a a tax deduction

[JJVP]

ok it's a silly bill, won't pass, but I almost wish it would ....

If I read this right, I can buy several $500.00 AK-47s and turn in to Govt for $2,000.00 Tax credit each
So, if I WAS ONLY GOING TO BUY 5 AK-47s .... I would instead buy 10 more AKs, turn in 5 AKs and keep 5 ... I reduced the number on the street by 5<<<(Liberal Logic) and made money.
The Govt then can pass them onto a drug cartel and I'll be glad I kept 5 later and my "Govt Money" will pay for Ammo.

No. If I read it correctly, It limits you to one. And you get half the tax credit one year and the other half the next.

``(2) Year credit allowed.--The amount of the credit under
paragraph (1) shall be allowed \1/2\ for the taxable year
during which the assault weapon was so surrendered and \1/2\ in
the next taxable year.

(3) Denial of double benefit.--The taxpayer may elect the
application of this section with respect to only 1 weapon, and
if such election is made for any taxable year, no deduction
shall be allowed under any other provision of this chapter with
respect to the surrender or contribution of the specified

[RPB]

ok it's a silly bill, won't pass, but I almost wish it would ....

If I read this right, I can buy several $500.00 AK-47s and turn in to Govt for $2,000.00 Tax credit each
So, if I WAS ONLY GOING TO BUY 5 AK-47s .... I would instead buy 10 more AKs, turn in 5 AKs and keep 5 ... I reduced the number on the street by 5<<<(Liberal Logic) and made money.
The Govt then can pass them onto a drug cartel and I'll be glad I kept 5 later and my "Govt Money" will pay for Ammo.

Except that the $2000 tax credit only amounts to $100 in real money.

The reason I didn't know that was I bought a bunch of energy star efficient stuff, doors, dishwasher, appliances, weatherization etc etc etc to get a Obama tax credit that I never got at all.
The man lied to me. Turns out you only get that credit against what you owed, and I had losses and capital loss carryovers etc so I owed nothing and got no credit against what I owed or something like that since I owed nothing. The Energy Star Dishwasher is still in the box from 2008, not installed yet as I am going to replace cabinets, meanwhile ... that dishwasher was recalled for burning houses down... and discontinued, I'll call Sears to open the box and do the recall upgrade some day.... still mad at the lie though, I'd have waited and later gotten a even more technologically advanced one.

[Gameover]

Thanks but no thanks!