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macman
They get taxed on the find, on the sale and on an income of it.
macman
A flat tax or consumption tax is the only fair way to go about taxing.
Crakeur
a flat tax is not going to work. I imagine everyone in the upper brackets would prefer a flat tax but the folks in the bottom half would be up in arms.
say they impose a flat 15% tax.
the guy making a million dollars is paying less than before and he's thrilled.
the guy making $35,000 is paying a higher rate and is furious.
15% of 35k hurts more than 15% of 300k.
Huggiesunrise
Guys.. dont you think this would be a story in a paper. and not som aneqdote copy and pasted?
Where the links this even happened?
Wheres the damned proof?
the IRS has no jurisdiction over land thats not federally owned. Treasure is not defined anywhere under income. the entire irs law and usc is searchable folks grow a brain.
Found property. If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession.
and some other choice income items:
Bribes. If you receive a bribe, include it in your income
Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.
Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
Crakeur
and some other choice income items:
Bribes. If you receive a bribe, include it in your income
Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.
Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
and how will roads be cared for?
how will we defend ourselves from potential invasion?
how will the ever growing population of welfare recipients live?
how will our children get educations? how will public transportation operate?
what would be a fair rate for a flat tax? Should everyone pay 39.6%? does a guy making $40k paying $15,840 to the feds sound like something that won't hurt?
federal roads are cared for using federal tax dollars.
state and local schools get handouts from the gov't to aid in the costs.
states with low taxes/no taxes often have higher property taxes. they also tend to have higher sales taxes, spend less on things like schools etc.