Ferrari Mailing List: Re: Fwd: How Chickenshit Is The IRS?

[Tom Reynolds (kjtar]

How about the flat tax that Steve Forbes was advocating during (one of) his
Presidential campaign?  Everyone pays, what, 15%?  Or whatever.  Pluses,
minuses, etc.?
Best regards,
Wanting to see your viewpoint, Dennis.
Tom
----- Original Message ----- 
From: "Dennis Liu" <bigheaddennis [at] gmail.com>
To: "Tom Reynolds" <kjtar [at] cox.net>
Cc: "'The FerrariList'" <ferrari [at] ferrarilist.com>
Sent: Friday, September 28, 2007 10:18 AM
Subject: Re: [Ferrari] Fwd: How Chickenshit Is The IRS?


> Hey, since we're apparently going completely off-topic today...
>
>
> Willi, I'm easily among the more extreme in terms of criticizing our tax
> policies, but don't lose that tenuous grip on reality, ok?  :-)
>
> Of course the house is taxable.  Why the heck not?  It's attributable as
> income to the recipients.
>
> Ah, but one might protest, "it's not fair!  This is a worthy family, why
> should they get taxed on something really nice?"
>
> Because tax codes (and laws in general) have to be written so that they
have
> utility and broad application.
>
> 1.  Single mother of four kids, in desperate circumstances, receives free
> house.  Pay tax on it?  No?  Ok.
>
> 2.  Middle-class family, not on food stamps but working two jobs each,
> receives free house.  Pay tax on it?  No?  Ok.
>
> 3.  Upper-middle class family, husband is a doctor, wife is an accountant,
> receives free house.  Pay tax on it?  Yes?  Ok.
>
> How do you distinguish between these scenarios?  Do you want to put
together
> a panel of judges to decide if a case is worthy enough to avoid taxation?
>
> Don't forget - if a recipient is "poor" enough, her tax bracket is much
> lower than "wealthier" recipients, so she's ALREADY paying much less tax!
>
> And don't forget too that, as ever, "money is fungible."
>
> If instead of getting the house, the family in question got $500k in cash
to
> pay for a new house.  Should that be taxable?  No?  Apply the same test
> above.
>
> Bottom line, the family may indeed not be able to afford to pay the tax
> bill.  While it may suck that they will have to sell the house and use the
> proceeds to pay the IRS, they are STILL WAY AHEAD!
>
> I'd LOVE it if someone tore down my shack, built one worth a lot more in
its
> place, and I sold it, paid the taxes, and bought another house elsewhere
> that, while not as nice as the new one, is still much better than my old
> shack.
>
> Yeesh.
>
> Vty,
>
> --Dennis
>
>
> -----Original Message-----
> From: red5hilser [at] aol.com [mailto:red5hilser [at] aol.com]
> Sent: Friday, September 28, 2007 11:08 AM
> To: Dennis Liu
> Cc: The FerrariList
> Subject: [Ferrari] Fwd: How Chickenshit Is The IRS?
>
>
> Hey Todd: You wonder if the family that got the 'Extreme Makeover' will
have
> to pay taxes to the IRS for the value of the upgrade? LMFAO! Does the old
> song, 'Tax Man' ring a bell?
>
>
>
> Yer pal, Ferrari Bubba
>
>
> Subject: How Chickenshit Is The IRS?
>
>
>
>
> I watched?the Bud Greenspan documentary' "Kings of the Ring: The
Heavyweight
> Champions' on Sundance today.?Bud brought up the story of Joe Lewis and
how
> he was shafted by the IRS during WW2. After Pearl Harbor, Joe enlisted in
> the U.S. Army as a private. Not like most of the 'fairy' Hollywood types
who
> went in a captians, majors, etc. and never left Hollywood.?In his off-duty
> time he held boxing exhibitions to help raise money for our fighting men.
> Although he donated every dime of the money to the War Relief Fund, the
IRS
> said it was 'taxable income' and took what money he had saved during his
> career before the war. Joe ended up penniless as a greeter for some casino
> in Las Vegas before dying broke. Later, my 1st wife and I were in a joint
in
> 'Vegas one night and met Sonny Liston, working the same kind of gig. The
> 'Little Lady' went over to him and asked, "Hey, mister, aren't you
Mohammed
> Ali?" Sonny took a long, hard look at her and said, "lady, where's your
> husband, I want to knock him out" as I slowly backed away, complimentary
> drink in hand.. Knowing Greenspan's rep as a stright shooter and our
beloved
> government, I believe it's a true story.
>
> Yer pal, Ferrari Bubba
> Email and AIM finally together. You've gotta check out free AOL Mail!
>
>
>
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