HR 226- Leviathan Wants To Buy Your AR!!!

[NETim]

$2K tax credit if you hand over your legally owned "assault rifle."

http://beta.congress.gov/bill/113th-congress/house-bill/226/text?q=h.r.%20226

Maybe some folks south of the border called and placed another order? I dunno.

[CCT125US]

Yep, those legal sporters are the problem. Let's raise taxes, increase the debt, and remove the pesky legally owned guns from the hands of the citizens. Forget those owned and used in crimes, those obviously are not the problem. And this should really save the children while running up debt for those same children, this is brilliant.

[JV_]

Do stripped lowers count?

[MEH]

Do stripped lowers count?

``(J) A frame or receiver that is identical to, or
based substantially on the frame or receiver of, a
firearm described in any of subparagraphs (A) through
(I) or (L).

Seems like a stripped lower might just fit this description.

[Tamara]

Do stripped lowers count?

I like the way you think. :cool:

[LOKNLOD]

Maybe some folks south of the border called and placed another order? I dunno.

Well, cartels are affected by the shortages too, I guess.

[joshs]

H.R. 226, The Gun Owner Tax Abatement/Write-Off Act of 2013, otherwise known as the GOT AW Act.

[Tamara]

Dude, Hi-Point carbines count, too! If this passes, there'll be no more whining "Ah got me this Hi-Point 'cause Ah cain't afford one o' them there fancy Colts."

We should totally sponsor this and call it the Militia Improvement Act of 2013. Congress does have the constitutional power to equip the militia, after all...

[LOKNLOD]

Dude, Hi-Point carbines count, too!

Ha, I had thought about those, relatively easy to get and cheap. The question is, can I turn in 10 HP carbines for a 20,000 credit?

[Tamara]

Ha, I had thought about those, relatively easy to get and cheap. The question is, can I turn in 10 HP carbines for a 20,000 credit?

Unfortunately, it's only one per customer.

[joshs]

there'll be no more whining "Ah got me this Hi-Point 'cause Ah cain't afford one o' them there fancy Colts."

But, it's drafted as a deduction, not a tax credit, so you actually have to have $2k of federal income tax before you can take advantage of the full amount.

[JV_]

can I turn in 10 HP carbines for a 20,000 credit?It's like a gun owners EITC.

[JV_]

More accurately, EITD...

[RoyGBiv]

But, it's drafted as a deduction, not a tax credit, so you actually have to have $2k of federal income tax before you can take advantage of the full amount.

Reads to me like it's a credit.
1/2 in the year of the donation, 1/2 the following year.


there shall be allowed as a credit against the
tax imposed by this chapter an amount equal to $2,000.
``(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.

[Tamara]

But, it's drafted as a deduction, not a tax credit, so you actually have to have $2k of federal income tax before you can take advantage of the full amount.

I know lots of people with pimped-out bass boats and four-wheelers who can't afford one o' them there fancy Colts. This might be what it takes to get Liberty's Teeth into their gun safe!

[joshs]

Reads to me like it's a credit.
1/2 in the year of the donation, 1/2 the following year.

You are correct. I should have said it will work more like deduction since it is not a refundable tax credit, which is what many people think of when they discuss tax credits like the EITC.

[orionz06]

I'll keep my guns and trust my accountant.

[RoyGBiv]

You are correct. I should have said it will work more like deduction since it is not a refundable tax credit, which is what many people think of when they discuss tax credits like the EITC.

Right... If you don't owe more than $1000 tax each year you don't get the full benefit.

[Erik]

My representative at work. Ugh. One of the things that strikes me most forcefully about all of the current gun control initiatives is how fiscally irresponsible they are. It seems to me to be the height of foolishness to spend tax dollars on a constitutionally suspect program that, at best, cannot be shown to make any positive difference with respect to the problem (gun violence) intended to be addressed at a time when the country is facing a fiscal crisis. I am surprised that I have not been hearing more about this.

[LOKNLOD]

Right... If you don't owe more than $1000 tax each year you don't get the full benefit.

I guess by the time people figured out they were effectively getting nothing for their guns, they'd at least be too disarmed to do anything about it...

[Odin Bravo One]

Yeah...........I don't have an AR that has a value under $2k. And unless it was a Bushmaster/Windham Weaponry or POF, I wouldn't even consider it even if I did. BM/WW/POF............? I'd turn them in and take the credit.

[Failure2Stop]

Huh.
What if I don't want my tax dollars to go to over-paying for someone's crappy rifle?
(rhetorical, not directed at anyone in this thread)

Then again, nobody seemed to care about my opinion when they allowed "assault weapons" to travel into Mexico or sent F16s to extremist revolutionaries.


Typos brought to you via Tapatalk and autocorrect.

[Tamara]

Yeah...........I don't have an AR that has a value under $2k. And unless it was a Bushmaster/Windham Weaponry or POF, I wouldn't even consider it even if I did. BM/WW/POF............? I'd turn them in and take the credit.

Dude, they'll take a Hi-Point carbine. :eek:

[Tamara]

Huh.
What if I don't want my tax dollars to go to over-paying for someone's crappy rifle?
(rhetorical, not directed at anyone in this thread)

Article One, Section 8 states that the Legislative Branch has the power "(t)o provide for organizing, arming, and disciplining, the Militia..."

I'd say that if this bill allows somebody to trade in their SU-16 on a 6920 so that they can better fulfill their 10 USC 311 duties, then it's right in the constitutional wheelhouse. ;)