The scenario: You're a working person, struggling to survive. Then one day, out of the clear blue sky, a baseball hit by Barry Bonds lands in your glove (or, you kicked and punched a bunch of people in order to claim it for yourself...) or you win the lottery.
You finally catch a break, and have been paying taxes all your life.
Should the government let you have this, just this once, and finally give a guy a break? The dude is going to have to sell the ball in order to pay the taxes on it, I read. So he can't afford to keep the ball for himself as a memento.
I really hate our tax system. We need to switch to a sales tax based federal income system, so that you pay taxes when you spend money, not when you earn it. Fairtax, flat tax, whatever you want to call it. We need it, and we need it today.
2007-08-09 06:03:35 · 9 answers · asked by askthepizzaguy 4 in Politics & Government ➔ Government
I read that story and was thought it was completely ridiculous, I dont see how they can tax a baseball????
I do realize it has value, but why wouldnt they just tax the revenue from it IF he decided to sell it?
2007-08-09 06:08:24 · answer #1 · answered by Anonymous · 5⤊ 0⤋
I agree. Income taxes are the most inefficient form of tax. There is a reason why the founding fathers never providing the government the power to tax income. It penalizes those that succeed and encourages people to earn nothing. Are we supposed to penalize people for succeeding? The current tax system screw the middle and especially the upper middle class while giving a pass to the very poor and very rich. The alternative minimum tax has taken billions from middle class families who are making that extra $5000 a year trying to send their kids to college. It is so much, that many families end up with LESS money when they earn that extra from a bonus or a world record baseball they catch than before the benefit even happened. The poor pay nothing and the rich can afford to high personal accountants to pay the least tax they can. John Kerry makes 6 million a year, yet only pays 11.5% income tax. Instead of a income tax which tax whenever something good happens to you, sales taxes would tax only that what you consume. Doesn't it make sense to tax people most who consume the most? Of course it does. We want to encourage people to invest and to save, yet income taxes double tax people with capital gains on investments and provide no incentives to save any money.
I think the IRS should wait and see if the man sells it, until then he really gains nothing from only having the baseball. I know why the IRS tries to tax items people recieve instead of waiting for them to sell it. What would we say if corporations started compensating their employees with cars/houses/and other valuable items that are not monetary? People can easily abuse that system so we are stuck with this crap system we have today. I wish the IRS would have the intelligence to enforce todays tax system without having to legislate every possible tiny little detail in order to keep them from doing things like this. I want an IRS with common sense.
2007-08-09 06:28:00 · answer #2 · answered by Anonymous · 2⤊ 1⤋
I read the article and makes no sense at all. How can you put a tax figure on something that isn't sold.
Always have there hand out for any possibility of a dime.
I heard yesterday that the ball may not even be worth what they were thinking. Bonds continues to hit home runs. People are going to want his last home run ball (The all time record ball). PLUS if Bonds is found to have done illegal steroids that will significantly drop the value.
Like I said how can you put a figure on something that hasn't sold.
Make no sense and how can that not be against the law. He may never sell it. Why should he pay taxes on it
2007-08-09 06:16:19 · answer #3 · answered by Anonymous · 4⤊ 0⤋
Just renounce your US citizenship before you collect the lottery. After ward you can get citizenship again any where if your a millionaire! If you're not a US citizen then they can't tax you on it! If they deny this then they must require all people that wish to purchase a ticket prove their citizenship prior to purchase! No sale tax system of taxation, because it only benefits the rich!
2007-08-09 06:24:05 · answer #4 · answered by Anonymous · 1⤊ 0⤋
He doesn't have to pay any tax until he sells it. As far as a flat tax it hurts the poor disproportionately since they spend all there income and the rich don't.
2007-08-09 06:11:47 · answer #5 · answered by region50 6 · 2⤊ 0⤋
The tax system is meant to hold down the middle class so that they can't accumulate wealth and take power away from the aristocracy.
It is very efficient at it's intended purpose.
2007-08-09 06:07:52 · answer #6 · answered by mikeburns55 5 · 5⤊ 0⤋
Not our tax system. Your going to be taxed when you earn it, taxed when you spend it, taxed if you give it away, taxed if it's given to you, and taxed after you die.
Tea anyone?
2007-08-09 06:12:12 · answer #7 · answered by From Yours Trully 4 · 4⤊ 0⤋
Maybe next time he won't waste his money on a sports game.
2007-08-09 06:07:06 · answer #8 · answered by Anonymous · 1⤊ 3⤋
It is absolutely ridiculous !!!
2007-08-09 06:08:29 · answer #9 · answered by Anonymous · 5⤊ 0⤋