| mmm |
Oct 5th, 2001 09:18 AM |
Tax Break for travel??-- Give me a break!
According to CNN, The Travel America Now Act would give a tax credit for personal and vacation travel for trips more than 100 miles from home. The credit would be up to $500 for individuals and $1,000 for couples. <BR> <BR>However, here's the catch (or one of them):this credit would only be available for travel expenses incurred from the time the bill becomes law to December 31, 2001. <BR> <BR>Unlike elected officials, I can NOT take a vacation at a moment's notice. Like, most Americans, I do NOT have unlimited vacation time. <BR> <BR>We normally take a week in the spring for FL and then a longer European vacation in early fall -- this past year we went in August because we went to the Baltic. <BR> <BR>If this tax break has a 12/31/01 deadline, it is useless for us. Even though we put @$12,000 into the US economy via our Princess cruise and April '01 FL vacation, we get a big fat nothing. <BR> <BR>Also, we do not itemize on our federal taxes. If this tax break requires itemization, it is worthless for us. <BR> <BR>Why shouldn't this apply to travel through 2002? Does Congress really think the economy will rebound before April 2002? I don't. Do Congress really think the laid-off Americans will not only be back to work but also have extra cash for travel spending? I don't. <BR> <BR>Retail stores are cutting back on help and inventory because they expect bad holiday sales -- does Congress think we are going to spend our dollars on travel? <BR> <BR>I'm mad enough about the limits on this to say "to h*** with Vegas in Jan 2002 or Florida in April 2002 or anywhere in Sept 2002." No tax break for us -- the money goes in the bank-- no, wait, the bank can use it for morgage loans -- in the safety-deposit box, where it can sit and sit and sit. <BR>
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