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Response to fescuerescue (Reply #6)

Sat Feb 9, 2019, 03:46 PM

21. Thank Ross Perot for the carry-back/carry-forward losses

He got those put into the tax system so he could carry back losses on EDS**.

My husband and I got to use the carry-back loss scheme back in the 1980s when we closed two businesses. Although the businesses were by then barely making profits, if we closed them then and used carry-back losses we'd get a nice fat check from the IRS which when put into investments earned more than the businesses were estimated to do. No brainer, there.

These kind of tax schemes do allow companies to invest more with the idea that once they make a profit they can write off past years losses against their more successful years. They also let cyclical businesses keep running. For instance, when I bred horses, I would have years when sales were not good and then in a good year I would sell not only foals from previous years, foals from that year would sell at higher prices. I could not have kept my horse business going without off setting those profits against the years when no horses sold.

**And of course we can't mention EDS without watching one of the best commercials of all times:

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PeeJ52 Feb 2019 OP
Dennis Donovan Feb 2019 #1
ooky Feb 2019 #9
PeeJ52 Feb 2019 #11
Dennis Donovan Feb 2019 #12
PeeJ52 Feb 2019 #15
dalton99a Feb 2019 #2
Initech Feb 2019 #3
Me. Feb 2019 #4
PeeJ52 Feb 2019 #5
fescuerescue Feb 2019 #7
fescuerescue Feb 2019 #6
safeinOhio Feb 2019 #8
fescuerescue Feb 2019 #13
safeinOhio Feb 2019 #22
fescuerescue Feb 2019 #23
PeeJ52 Feb 2019 #14
fescuerescue Feb 2019 #16
Igel Feb 2019 #24
LineLineNew Reply Thank Ross Perot for the carry-back/carry-forward losses
csziggy Feb 2019 #21
superpatriotman Feb 2019 #10
fescuerescue Feb 2019 #17
joc46224 Feb 2019 #18
PeeJ52 Feb 2019 #20
Power 2 the People Feb 2019 #19
Duppers Feb 2019 #25
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