But it isn't yours anymore. You are trying to give it to someone else. It is the act of giving the money you earned to someone else that triggers the tax. If you kept the money, or just let it sit, there would be no tax.
If you think that once a dollar is yours, you should be able to do whatever you want with it, does that include giving a handful of cash to your neighbor? Or giving a car to the paperboy? Should the neighbor or the paperboy have to pay taxes on the money/items they got from you? If not, then how can any income be taxed? BTW, I don't have a position on the estate tax issue. I've seen to much on both sides (abuse by the rich and abuse by the gov on the small/family business). It confuses the heck out of me, and my idea (like yours) is that if we didn't spend so much money we wouldn't need to take so much money. Jerry Johnson Web Developer Dolan Media Company -----Original Message----- From: Cameron Childress [mailto:[EMAIL PROTECTED] Sent: Thursday, March 31, 2005 6:51 PM To: CF-Community Subject: Re: The Paris Hilton Benefit Act of 2001* On Thu, 31 Mar 2005 18:39:35 -0500, jerry johnson <[EMAIL PROTECTED]> wrote: > "Lose farms". Loose women. Yeah, my bad... > The difference is that my son is receiving the pile-o-cash and is > therefore taxed. Not a pile-o-cash, a pile-o-assets. Might be all cash, but in most cases it's not. The point is that you are paying a tax on the value of all the assets, and you may or may not have enough cash and liquid assets to pay that tax. And I guess we just disagree on that. I think it shouldn't be taxed. It's already been taxed, as your income or as capital gains or as something else. How many times should your dollar be taxed before it's yours and that's the end of it? -Cameron -- Cameron Childress Sumo Consulting Inc http://www.sumoc.com --- cell: 678.637.5072 aim: cameroncf email: [EMAIL PROTECTED] ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Discover CFTicket - The leading ColdFusion Help Desk and Trouble Ticket application http://www.houseoffusion.com/banners/view.cfm?bannerid=48 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:152438 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
