Members baracuda2004 Posted August 22, 2007 Members Share Posted August 22, 2007 Good luck with that. I'm gonna do my part by not voting or watching speeches or donating to charity or pretty much anything else that matters. If enough of us do this then we could collapse this economy in what 2 maybe 3,000 years?? Link to comment Share on other sites More sharing options...
Members ec437 Posted August 22, 2007 Members Share Posted August 22, 2007 Haha, that guy is a tool. All he'd have to do to not get taxed on it is hire a halfway decent lawyer. Link to comment Share on other sites More sharing options...
Moderators Kindness Posted August 22, 2007 Moderators Share Posted August 22, 2007 or pretty much anything else that matters. If enough of us do this then we could collapse this economy in what 2 maybe 3,000 years?? Sweet. I should be long gone by then. Link to comment Share on other sites More sharing options...
Members baracuda2004 Posted August 22, 2007 Members Share Posted August 22, 2007 Can't agree on this one. Well only because i'm poor.. and need the money myself to live. Link to comment Share on other sites More sharing options...
Members Mudbass Posted August 22, 2007 Members Share Posted August 22, 2007 Tell me if this scenario makes sense or would work.This guy is apparently afraid of hanging onto this ball right? so it seems either way he is going to sell it/get rid of it.Here's the scenario i see.This guy goes ahead and pays the taxes on this ball at its bought value (someone said 3 bux?) or even if it cost $20 or whatever, right, he pays that tax...OK?Now, he sells that ball for X number of dollars; so beings HE already paid taxes on this ball, how can they tax that same guy again for that same ball?Given the gist of this ball being taxable just for "possessing it" wouldn't the taxes be transferred to the new owner following the pattern that they want to establish tax wise? A new, top of the line Rawlings baseball is worth about $10, which I'm sure is well below any requirement the IRS has for reporting income. When he sells the ball for 500k, or what ever a collector pays for it, the 500k is taxable income and the IRS would definitely nail him for that. The new owner of the ball won't be taxed unless he in turn sells the ball for a profit, at which time he would taxed for the income he made on the ball. When you win a car or a boat or a house on a game show or something the IRS considers that income, but cars, boats and houses are considered real property. They have bluebook value or real estate value that can be set and quantified. I don't know if a baseball can be counted as real property. Any tax experts on the board? Link to comment Share on other sites More sharing options...
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