LA TIMES article in APRIL calls for the repeal of Prop 13 .....because they say it is keeping the state from solvency. They cite as proof-- that Warren Buffet advised Arnold to ditch the prop.
Anybody know of a good place to move to where people actually work?
<< <i>The fact is that government is out of control and has been out of control with spending, and then stealing our money with what appears to be zero resistance.
And so now they "have " to find more and more creative ways of ripping us off. What's really humorous is when people say "what a stupid law", or "they don't know what they're doing" when in my opinion, they know exactly what they are doing as you don't see them EVER losing power do you? Or am I wrong and does anyone actually see a return to a freer state of the country and I'm just missing it?
Rare Coins have a degree of privacy that every statist in government would LOVE to devise a way to track, monitor and tax. The business is one of if not the last bastion of free enterprise that exists in this country and one of the unspoken crimes thats going on here is the integration of the government in this great hobby/investment and now the alleged crimes that are attached to that integration that is absolutely giving the statists in Ohio the "excuse" to come up with a way to tax everyone ( steal ), under another guise of protecting the public.
WAYS AND MEANS COMMITTEE SCHEDULES HEARING ON TAX REFORM: On June 8, the House Ways and Means Committee will hold the first in a series of hearings on reforming the tax code. According to the Committee, “The focus of the hearing will be on attaining a broad overview of the principle economic objectives of tax reform with a focus on fairness, simplicity, and impacts on growth. In particular, the hearing will explore: 1) ways to make compliance and understanding of the tax code simpler for American workers and businesses; 2) economic distortions and incentives imposed by the tax code; and 3) various measures of tax burdens.” The President’s Advisory Panel on Federal Tax Reform must report its recommendations to the Treasury Secretary by July 31, 2005.
In announcing the hearing, Committee Chairman Bill Thomas (R-CA) said, “In anticipation of recommendations from the Treasury Secretary on tax reform, this hearing will be the first of several to inform Congress on the need for and benefits of reforming the current tax code.”
mrearlygold-- I think this is a postive use of our tax dollars. Something good might come out of it.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
<< <i>WAYS AND MEANS COMMITTEE SCHEDULES HEARING ON TAX REFORM: On June 8, the House Ways and Means Committee will hold the first in a series of hearings on reforming the tax code. According to the Committee, “The focus of the hearing will be on attaining a broad overview of the principle economic objectives of tax reform with a focus on fairness, simplicity, and impacts on growth. In particular, the hearing will explore: 1) ways to make compliance and understanding of the tax code simpler for American workers and businesses; 2) economic distortions and incentives imposed by the tax code; and 3) various measures of tax burdens.” The President’s Advisory Panel on Federal Tax Reform must report its recommendations to the Treasury Secretary by July 31, 2005.
In announcing the hearing, Committee Chairman Bill Thomas (R-CA) said, “In anticipation of recommendations from the Treasury Secretary on tax reform, this hearing will be the first of several to inform Congress on the need for and benefits of reforming the current tax code.”
mrearlygold-- I think this is a postive use of our tax dollars. Something good might come out of it. >>
Well at least I'm laughing Mr Longacre. Hahahaha. So these very same people who steal yours and my income are going to make us pay for them to debate what's fair.
LOL!
You know what's going to come out of it Mr Longacre? Higher taxes although they might be called "fees" or something to protect the fatherland or whatever.
But greater economic freedom, not a chance and again to stress simple aritmatic (yeh I'm being a sarcastic speller) there's NO WAY they can do any lowering of overall taxes with the type of runaway spending they have created.
Not a chance.
The whole deal has to be scrapped and that's not going to happen for a variety of reasons.
Longacre - As a California CPA who has a working knowledge of the sales tax laws, this bookseller is a boludo for taking his case to the court. It is a no-brainer. If your business has a physical presence in California, you are required to charge state sales tax on all sales of tangible personal property (ie., in this case, books) to all end users who reside in California. The only applicable exceptions are specifically mentioned (like the over $1,000 for a purchase of rare coins or bullion) in the California Revenue & Taxation Code.
As a practical matter, if you say, live in Washington (they have an 8 3/4% sales tax) and go across the Columbia River into Portland and buy a computer (Oregon does not have a sales tax), yes, you are SUPPOSED TO pay use tax to the State of Washington. How much use tax does the State of Washington collect on these purchases? Not much.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
Elcontador-- thanks for your comments. All of this tax stuff confuses me.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
<< <i>The South Pacific private island-country is looking better and better. >>
I've already done that ( South China Sea and then the Gulf of Siam close enough?) and yes it does but have a real good plan in place first. I didn't and got hammered!
mrearlygold-- as a US citizen, aren't you taxed by the US on your worldwide income?
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
RYK: Your question whether rare coins are more like baseball cards or stocks is at the crux of many tax-related arguments. The problem is that numismatics encompasses a broad area -- from South African Krugerrands to 1913 Liberty nickels.
While it might seem easy for you to distinguish these two examples by saying that a 1oz K-Rand is more like a share of stock and a 1913 Nickel is more like a rare baseball card (or perhaps a Monet painting would be a better comparison), what about those gray areas such as 90% bulk silver bags that contain Walking halves or Mercury dimes? Or circulated $20 Saints that trade for tiny premiums over melt?
There are also interesting arguments that can be made regarding the taxation of "legal tender" (by any country) and feasability of taxing commoditized items. For example, if you want to invest in Silver, you can purchase a 10,000oz contract on the Mercantile Exchange (no taxes) or buy 10,000oz of Silver rounds (soon to be taxable in Ohio). After all, the silver rounds are nothing more than the physical manifestation of a commodity contract.
Todd L. Imhof Partner / Executive VP Heritage Auctions
Comments
LA TIMES article in APRIL calls for the repeal of Prop 13 .....because they say it is keeping the state from solvency. They cite as proof-- that Warren Buffet advised Arnold to ditch the prop.
Anybody know of a good place to move to where people actually work?
<< <i>The fact is that government is out of control and has been out of control with spending, and then stealing our money with what appears to be zero resistance.
And so now they "have " to find more and more creative ways of ripping us off. What's really humorous is when people say "what a stupid law", or "they don't know what they're doing" when in my opinion, they know exactly what they are doing as you don't see them EVER losing power do you? Or am I wrong and does anyone actually see a return to a freer state of the country and I'm just missing it?
Rare Coins have a degree of privacy that every statist in government would LOVE to devise a way to track, monitor and tax. The business is one of if not the last bastion of free enterprise that exists in this country and one of the unspoken crimes thats going on here is the integration of the government in this great hobby/investment and now the alleged crimes that are attached to that integration that is absolutely giving the statists in Ohio the "excuse" to come up with a way to tax everyone ( steal ), under another guise of protecting the public.
I'm not missing it.
Tom >>
In announcing the hearing, Committee Chairman Bill Thomas (R-CA) said, “In anticipation of recommendations from the Treasury Secretary on tax reform, this hearing will be the first of several to inform Congress on the need for and benefits of reforming the current tax code.”
mrearlygold-- I think this is a postive use of our tax dollars. Something good might come out of it.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>WAYS AND MEANS COMMITTEE SCHEDULES HEARING ON TAX REFORM: On June 8, the House Ways and Means Committee will hold the first in a series of hearings on reforming the tax code. According to the Committee, “The focus of the hearing will be on attaining a broad overview of the principle economic objectives of tax reform with a focus on fairness, simplicity, and impacts on growth. In particular, the hearing will explore: 1) ways to make compliance and understanding of the tax code simpler for American workers and businesses; 2) economic distortions and incentives imposed by the tax code; and 3) various measures of tax burdens.” The President’s Advisory Panel on Federal Tax Reform must report its recommendations to the Treasury Secretary by July 31, 2005.
In announcing the hearing, Committee Chairman Bill Thomas (R-CA) said, “In anticipation of recommendations from the Treasury Secretary on tax reform, this hearing will be the first of several to inform Congress on the need for and benefits of reforming the current tax code.”
mrearlygold-- I think this is a postive use of our tax dollars. Something good might come out of it.
Well at least I'm laughing Mr Longacre. Hahahaha. So these very same people who steal yours and my income are going to make us pay for them to debate what's fair.
LOL!
You know what's going to come out of it Mr Longacre? Higher taxes although they might be called "fees" or something to protect the fatherland or whatever.
But greater economic freedom, not a chance and again to stress simple aritmatic (yeh I'm being a sarcastic speller) there's NO WAY they can do any lowering of overall taxes with the type of runaway spending they have created.
Not a chance.
The whole deal has to be scrapped and that's not going to happen for a variety of reasons.
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
As a practical matter, if you say, live in Washington (they have an 8 3/4% sales tax) and go across the Columbia River into Portland and buy a computer (Oregon does not have a sales tax), yes, you are SUPPOSED TO pay use tax to the State of Washington. How much use tax does the State of Washington collect on these purchases? Not much.
"Seu cabra da peste,
"Sou Mangueira......."
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>The South Pacific private island-country is looking better and better. >>
I've already done that ( South China Sea and then the Gulf of Siam close enough?) and yes it does but have a real good plan in place first. I didn't and got hammered!
But quite an adventure for a couple of years
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>mrearlygold-- as a US citizen, aren't you taxed by the US on your worldwide income? >>
Yes Mr Longacre and after all, it's for the good of the people and I believe one of only 2 countries that do that.
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
While it might seem easy for you to distinguish these two examples by saying that a 1oz K-Rand is more like a share of stock and a 1913 Nickel is more like a rare baseball card (or perhaps a Monet painting would be a better comparison), what about those gray areas such as 90% bulk silver bags that contain Walking halves or Mercury dimes? Or circulated $20 Saints that trade for tiny premiums over melt?
There are also interesting arguments that can be made regarding the taxation of "legal tender" (by any country) and feasability of taxing commoditized items. For example, if you want to invest in Silver, you can purchase a 10,000oz contract on the Mercantile Exchange (no taxes) or buy 10,000oz of Silver rounds (soon to be taxable in Ohio). After all, the silver rounds are nothing more than the physical manifestation of a commodity contract.
Partner / Executive VP
Heritage Auctions
<< <i>As a practical matter, if you say, live in Washington (they have an 8 3/4% sales tax) >>
Unless you're eating in a restaurant in King County, then it's 9.1%. Got to pay for those loser pro sport franchises.
But, at least we don't have sales tax on coins - yet.
Russ, NCNE