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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
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@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    Noah Smith‏Verified account @Noahpinion Oct 17

    Noah Smith Retweeted Samuel Hammond  🏙

    Agreed.https://twitter.com/hamandcheese/status/1052594590455336961 …

    Noah Smith added,

    Samuel Hammond  🏙 @hamandcheese
    We should cap the deductibility of advertising. Advertising is important, but beyond a becomes a zero-sum arms race. Setting the cap reasonably high would preserve full deductibility for the vast majority of businesses but cut the head off of marketing-first business models.
    Show this thread
    9:34 AM - 17 Oct 2018
    • 2 Retweets
    • 19 Likes
    • Derrell Durrett John Brooks ø Pheeta Charlie Haynes Anand Butler Jared “🥧 🦃” Hoffman marcelo Peter Zerzan
    3 replies 2 retweets 19 likes
      1. John Brooks‏ @jakebrooksGULC Oct 17
        Replying to @Noahpinion

        Don’t even need to think about it as tax penalty. Lots of advertising is going to build IP and goodwill, which are long-lived assets. Those expenses should be capitalized, not immediately expensed. Then maybe get some amortization or basis recovery later.

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      1. Tatil Sever‏ @Tatil_Sever Oct 17
        Replying to @Noahpinion

        Even if we assume the premise that large advertising spending is a zero sum game, is there any evidence that such spending harms society? If not, why should we use tax code to protect large corporations from their own decision making?

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      1. Motown Boy‏ @motown5203 Oct 17
        Replying to @Noahpinion

        Makes sense. It certainly works in restricting entertainment.

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