A gift for averagejoe

@averagejoe1 said
Having put that to rest, we ca all stipulate that for many decades , both dems and repubs have traded back and forth on government programs, in and out, in and out , pointing fingers, back room deals, the crooked legislator who gets the county road to his house in Tennessee all paved nice and pretty.
Yes, we can all stipulate that some bad stuff, some bad programs, ...[text shortened]... bubbles in the park and be cared for.
Me? I want to buy a yacht. Makes one think...........

I'm willing to make a bet with you. No one in the US has ever purchased a yacht without assistance from the federal government.

@wildgrass said
I'm willing to make a bet with you. No one in the US has ever purchased a yacht without assistance from the federal government.

? My granny just left me $20M. I will go to the yacht store tomorrow and buy a yacht, by myself. ?

@averagejoe1 said
? My granny just left me $20M. I will go to the yacht store tomorrow and buy a yacht, by myself. ?

The only real person I can think of who made money without government and could afford a yacht is Warren Buffet. But he drives a cadillac and lives in a modest ranch home.

@wildgrass said
The only real person I can think of who made money without government and could afford a yacht is Warren Buffet. But he drives a cadillac and lives in a modest ranch home.

You said above that 'no one has ever purchased a yacht without government assistance." You changing something here, are 'ya. You will confuse jester since it surely confuses me.
And how did Warren make money without government? Obama would say, has said, that 'he didn't build that'.
But let us not digress. What do you mean I cant buy a yacht without govt? You fixing to weasel out on me, are 'ya?

@averagejoe1 said
You said above that 'no one has ever purchased a yacht without government assistance." You changing something here, are 'ya. You will confuse jester since it surely confuses me.
And how did Warren make money without government? Obama would say, has said, that 'he didn't build that'.
But let us not digress. What do you mean I cant buy a yacht without govt? You fixing to weasel out on me, are 'ya?

Did you buy a yacht?

@wildgrass said
Did you buy a yacht?

Is that you jester. Watch out, wild grass, like Shav, et al, y'all are losing steam, falling in to the ranks of jesters of the world.
Feigning misunderstanding of an issue is an obvious giveaway.

You're not going to give me a gold star for this thread too, are you? I did lose one a while back, though, about GLBTQ people, and was kinda glad I did. Kinda!?!? Hey do you know any of those tran people? (BTW, this thread is a loss, so I can give license to changing the subject).

@averagejoe1 said
Is that you jester. Watch out, wild grass, like Shav, et al, y'all are losing steam, falling in to the ranks of jesters of the world.
Feigning misunderstanding of an issue is an obvious giveaway.

You're not going to give me a gold star for this thread too, are you? I did lose one a while back, though, about GLBTQ people, and was kinda glad I did. Kinda!?!? ...[text shortened]... of those tran people? (BTW, this thread is a loss, so I can give license to changing the subject).

I asked you for an example of someone who bought a yacht without receiving government assistance, betting you would be unable to come up with anyone. The answer you provided was yourself. I was trying to make sure you actually owned a yacht before conceding that I had lost the bet.

@wildgrass said
I asked you for an example of someone who bought a yacht without receiving government assistance, betting you would be unable to come up with anyone. The answer you provided was yourself. I was trying to make sure you actually owned a yacht before conceding that I had lost the bet.

You are jester, indeed. It was a form of an analogy.
I have an idea. Pretend I just bought a yacht, that should do it. With my own money. By myself. I will now make the bet that when I 'bought' the yacht, I did it without government assistance.
Whew.

@averagejoe1 said
You are jester, indeed. It was a form of an analogy.
I have an idea. Pretend I just bought a yacht, that should do it. With my own money. By myself. I will now make the bet that when I 'bought' the yacht, I did it without government assistance.
Whew.

I think it's interesting that you prefer the "imagine if" statements to make a point about economics even though we also have "reality".

People might buy yachts without government help. They just don't.

@averagejoe1 said
You are jester, indeed. It was a form of an analogy.
I have an idea. Pretend I just bought a yacht, that should do it. With my own money. By myself. I will now make the bet that when I 'bought' the yacht, I did it without government assistance.
Whew.

"The Tax Cuts and Jobs Act of 2017 (TCJA)—a sweeping tax reform—included new beneficial provisions that proved quite lucrative for yacht owners and also yachts for charter that are purchased through and used for legitimate business purposes."

"Depending on your personal situation and where you live, you may be able to deduct the sales tax you pay on your boat purchase, and, when itemizing, possibly even be able to choose to deduct those state and local sales taxes instead of deducting state and local income taxes.

Also, with yachts now able to be classified as second homes under the TCJA, you may be able to deduct the interest on your loan under the mortgage interest deduction portion of the new code, which allows homeowners to deduct interest on loans for their first and second homes.

In order to qualify as a home, the boat must have a head, sleeping berth, and a galley.

Previously, this deduction let taxpayers write off interest on loan balances up to $1 million, but the new tax law reduced that amount to $750,000.

Expenses

To deduct any costs associated with listed property—such as fuel, maintenance, mooring fees, insurance, supplies, storage, and repairs—you must use it more than 50% of the time for business and your deductions are based on the percentage of boat use that’s business-related. So, if you charter out the boat 50% of the time, you can deduct 50% of the expenses.

If you’ve ever considered buying a yacht for a business or purchasing a yacht to be placed in a charter fleet, now is the time to take advantage of this new legislative benefit, as the window on the TCJA is closing.

Most yacht owners average 8-10 weeks of personal use a year. Why not put your investment to work in the idle time and help offset operating expenses? When you also consider what might be achieved from the tax standpoint, it makes for an ideal ownership profile." https://www.hmy.com/yachting/news/new-tax-law-continues-to-substantially-benefit-yacht-owners/

So you can buy a yacht, deduct the entire price in the first year, deduct any interest on a loan you took out to buy it because it's considered a "home" (assuming it has a "head, sleeping berth, and a galley" ) but then rent it out for the entire year and deduct any expenses you incur for doing so.

Sound like "government assistance" to you?

@wildgrass said
I think it's interesting that you prefer the "imagine if" statements to make a point about economics even though we also have "reality".

People might buy yachts without government help. They just don't.

Either approach reaches same conclusion, Ne c'est Pas? One might indeed buy a yacht without Gov help, so I win the bet. Let's have a beer.
I had to say imagine, as I did not, in reality, buy a yacht . You seem to keep messin' w AvJoe.
And why say 'they just don't'. Don't get you there.

@sonhouse said
@AverageJoe1
Did you actually read his links at the start?
My takeaway about you is you are all about money only and nothing else.
Also materialistic.

I feed the poor with a good portion of my money, Sonhouse. Give it a rest. Why do I need to say that money is the only way I can do it. You need to relax., Is the Trump saga not going your way?

@no1marauder said
"The Tax Cuts and Jobs Act of 2017 (TCJA)—a sweeping tax reform—included new beneficial provisions that proved quite lucrative for yacht owners and also yachts for charter that are purchased through and used for legitimate business purposes."

"Depending on your personal situation and where you live, you may be able to deduct the sales tax you pay on your boat purchase, ...[text shortened]... e year and deduct any expenses you incur for doing so.

Sound like "government assistance" to you?

Sure, and there are more benefits that you did not unearth.! But, in liberal-eze, you respond with flowerdy smoke and mud for our digestion.
The bet was 'can person buy a yacht, or a rowboat, without govt assistance'. Of course they can, they pick it out and write a check, and sail away. Why did you not take advantage of this simple premise to show that you can give genuine answers when a question presents itself....you could have said yes and garnered more fans!!!
But thanks for your well-researched NexisLexis, I am going to file it away in case I do buy a yacht!!!

@wildgrass said

Some People Work Harder Than Others. You will never get around that problem. To you, all is OK if you can blow bubbles in the park and be cared for.
Me? I want to buy a yacht. Makes one think...........

Two ways to buy your (~$10 million) yacht:

1) Work really hard. Drywall all day every day. Working labor days and Christmas eve for $15 an hour ...[text shortened]... re than a third of GDP comes from the government. 15% is deficit spending.

You didn't build that.

A lot going on here, Wildgrass. And you did leave out inherited money. Y'all do still let us inherit money, don't you? I've heard it is on the chopping block.
Wildgrass, I can answer this facetiousness by simply replacing money earned by 'drywall' laborer with money earned by a hedge-fund broker on Wall Street. Drywaller cannot afford a yacht, but WStreet guys can.
Whew. All you libs are getting a bit diluted.

@averagejoe1 said
A lot going on here, Wildgrass. And you did leave out inherited money. Y'all do still let us inherit money, don't you? I've heard it is on the chopping block.
Wildgrass, I can answer this facetiousness by simply replacing money earned by 'drywall' laborer with money earned by a hedge-fund broker on Wall Street. Drywaller cannot afford a yacht, but WStreet guys can.
Whew. All you libs are getting a bit diluted.

Do people who inherit enough money to buy a yacht "work harder" than people who do not?