8/8 IRS tells guy who caught the Bonds ball you now owe 200k
http://sports.yahoo.com/mlb/news?slug=ap-bonds-ball&prov=ap&type=lgns
\_ The dude won a $600K+ ball. He owes taxes the income. How is
that so strange? You pay taxes on gambling income and lottery
winnings too.
\_ The ball has no measured value until it's sold. Why should he
pay taxes now? Oh, and the guy who claims there's a tax
liability isn't the IRS, it's a (surprise) lawyer. -emarkp
\_ probably under the AMT laws, just like the dot
com folks in the early crash days, who owed taxes on their
options' value at time of grant, rather than their later
real value (or more accurately, lack thereof).
\_ Which are stupid laws as well. -emarkp
\_ Some parts of the constitution and amendments are
stupid as well. What is your fucking stupid point?
\_ [pointless off topic rude stupid troll purged]
\_ What if, instead of paying you cash, I pay you in a
magic card, that you can use to get cash at any time,
that gives you intrest on the income you have on the
card, and that you can even use as collateral to borrow
money off of. Should you have to pay taxes on that?
\_ No, we should move to the http://fairtax.org system, and
eliminate personal income taxes. -!emarkp
\_ I think the only problem with fairtax is the
rebate. But it would be an improvement, and would
have the advantage that the gov't doesn't know
what everyone is making. -emarkp
\_ Consumption taxes are incredibly regressive,
rebate or no, and if you really believe they
will do anything but be a giant tax burden
on the middle class you are a fool.
\_ Well, with that kind of argument, who can
respond! We have tons of regressive taxes.
So what. Imagine the wealth freed from
dealing with tax forms and laws, etc.
Oh, and if you're going to complain about
regressive taxes, are we going to get rid of
the confiscatory tax on cigarettes? What
about the Lottery?
-emarkp
\- "The state lottery is a public subsidy
of intelligence" --WVOQUINE@harvard.edu
of intelligence" --WVOQUINE@HARVARD.EDU
\_ Sin taxes: ok if moderate, especially
if for things that cause a significant
harm to public health. I do think
cigarette taxes have gone way past
a reasonable limit.
\_ Even with the so called "confiscatory"
tax, are smokers paying for their own
medical expenses?
Sales taxes: ok if low or moderate. Yes
they are regressive, so keep them fairly
low.
Lottery: Not quite the same thing at all.
Noone makes you pay the lottery. That
being said I really don't like goverments
having a lottery monopoly.
\_ Does it matter that you're not forced
to buy a lottery ticket? Funds are
used for public spending, and the vast
amount of lottery tickets are bought
by low-income people.
Why are "sin" taxes okay? Who are you
to declare what public policy is
toward sin? -emarkp
\_ No one makes you pay the BMW either.
\_ No! YOU are the one who is fool.
It's fair is what it is, saves ordinary
people from dealing with massive bureaucracy
and removes the incomprehensible system of
writeoffs and loopholes that the rich
already exploit. Encourages saving and
earning income, and discourages wasteful
consumption that liberals are always
complaining about. If, after all this, you
still want to take wealth away from the
rich then there are other means: just
directly tax their property and such,
or set up some special total wealth tax.
The truly rich are few in absolute numbers.
90+% of people shouldn't have to deal with
income tax. Also:
http://en.wikipedia.org/wiki/Distribution_of_the_FairTax_burden
Consider the payroll tax. Consider all the
401k/IRA and flexible spending account BS.
If you think a fairtax with rebate is
"incredibly regressive" you need to show
numbers. Also, with no income tax, the
"death tax" makes a lot more sense: it's
no longer double-taxed.
\_ Ok, I'll let the rest of your blather
stand but this double-tax bullshit has to
go. We tax people when money transfers
from one individual to another. For
instance if I pay someone to clean
my house, the maids income is taxed,
even though I had to pay taxes on the
income I made to pay her. If I go and
buy something from a store the store
pays taxes on their profit, even though
my money was taxed. There is no "money
only gets taxed once" rule and anyone
who says that estate taxes are double-
taxed is either an idiot or medicious.
taxed is either an idiot or mendacious.
Which one are you?
\_ Wow, look at that big word.
Short answer: I shouldn't have brought
it up. Really it should not be taxed
either when there is no income tax.
Ultimately someone has to spend the
money and it will get taxed then.
I appended that about the death tax
without thinking about it. (Feel free
to dance in glee at this point.)
I could, however, argue that in the
current scheme, inheritance isn't
a "new production". It isn't being
given in exchange for goods or
services. So it is "double taxed" in a
way that your examples aren't. But
I really don't care about this issue.
\_ The reason politics is such a mess is because people aren't willing
to be scientific about politics. I think the reason is, there
is a low cost for believing stupid shit in politics (some economists
view beliefs are a 'good' that people 'purchase'), but a fair bit of
psychological benefit (belief as 'tribal markings' for instance, or
beliefs which reinforce convenient internal attitudes) . In other
domains (medicine, engineering, etc) the penalty for believing
stupid shit is high, so people were forced to turn to science to
make their bridges stay up so to speak. This analysis applies
to some other areas, but the discreet lexicographer does not
name them... -- ilyas
\_ I've learned everything I need to know about politics from the
motd: "My guy is Good! Your guy is Evil!" What could be more
scientific than that?
\_ Are you still a libertarian drawing a government paycheck?
\_ Libertarians are not opposed to all government so it is not
hypocritical of a government employee to be a libertarian.
\_ I no longer think 'big political theories' are productive.
What ends up happening is you spend most of your time worrying
about coherence and thinking about silly edge cases which make
no practical difference. These days I rely on 'political
intuitions' and mostly concern myself with what direction
the current state of affairs must move to get better.
Similar insight in SVMs: only points close to the separating
hyperplane matter. -- ilyas |