Proposed Legislation Aimed at Your Wallet

Posted on 10/23/2009 by Edward Greenberg | Printable Version | Comments (1)

U.S. Senators Al Franken, Sherrod Brown and Sheldon Whithouse have introduced legislation to disallow the federal tax deduction for all advertising and marketing expenses for prescription drugs. If enacted, this bill will hasten the final demise of independent assignment photographers, illustrators and those whose livelihoods are directly dependent on such creatives.

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Copyright © 2009 Edward Greenberg. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

Comments

Dean Siracusa Posted Oct 23, 2009
This is very scary. If they can do this to "big pharma" they can do it to your business too. Imagine if you will, the Federal Government "having no choice but to end all business deductions" to raise additional revenue for the treasury.

Historically, taxes on business are on its profits. But, if you start taxing businesses on all revenue you're heading down a path where private business will no longer be viable. I think this is the idea though.

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