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BREAKING: Romney Tax Returns Show
That he took the full depreciation on his reproductive organs. Having produced five strapping sons, none of whom saw fit to serve in the Military, he had demonstrated the value at the outset and thus could run an Accelerated Cost Recovery Deduction over seven years. Now he can sell them at scrap value and amortize the principal thereof, taking concomitant losses on a carry forward basis.
My fave cartoon of all time is two guys sitting in a jail cell and one says to the other: "Well, I guess my generally accepted accounting principles weren't as generally accepted as I thought."
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