Washington Still Encouraging Sucking the Arabian Oil Teat

Only neocons, Pat Robertson, and auto dealers could love this tax break for the rich (and don't cry to me about "not all small business owners are rich." That's a given. But if your small business is writing off $25,000 for a vanity vehicle -- you're rich.)

It's one thing to hand out silver-spoon welfare; but to fork over cash that encourages further dependence on Saudi Arabian oil?

Tax Breaks Given on Gas-Guzzling SUVs: Yahoo! News

"Federal tax rules that took effect last month allow a credit of up to $3,150 for anyone buying a hybrid car. The credit is the same regardless of tax bracket.

However, owners of small businesses who buy a Hummer, Ford Excursion or other SUV weighing more than 3 tons get a deduction of up to $25,000 — depending on tax bracket — if they use the vehicle exclusively for work.

The benefits don't stop there. Once they subtract the $25,000 from the cost of their 3-ton SUV, small business owners can deduct the depreciation on the remaining amount. Someone who bought a $60,000 SUV, for example, can claim the remaining $35,000 over six years.

No such luck for small business owners who buy cars weighing less than 3 tons. No matter how much the vehicles cost, they can claim just $15,535 in depreciation over six years and $1,675 each additional year. Deductions for depreciation on trucks and vans weighing less than 3 tons are slightly more generous."