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Tuesday, June 22, 2004

Residual value of a submarine?

The Federal Government is giving away a submarine and a destroyer to be used as "museums."

I don't know if it bothered me more that the residual value of these ships is evidently zero (or does the federal government take a tax break?) or that they would be given away to any "qualified" nonprofit organization. I hope there aren't any 501 entities fronting for our enemies.
Eligible recipients include: (1) Any State, Commonwealth, or possession of the United States or any municipal corporation or political subdivision thereof; (2) the District of Columbia; or (3) any organization incorporated as a non-profit entity under section 501 of the Internal Revenue Code.

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