Comments on: IRS: If it’s Worth Something to You, it’s Worth Something to Us http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/ Tue, 06 Jan 2009 19:10:47 +0000 http://wordpress.org/?v=2.1.3 By: Jew http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-807 Jew Tue, 28 Aug 2007 17:24:35 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-807 Determining the value of memorabilia and collectibles is not easy. These things generally have no intrinsic value, so their worth is entirely arbitrary. (Kind of like our fiat currency! Zing!) When I was buying renters' insurance, they asked was whether I had any collectibles. They need to know the value of collectibles beforehand, and I suspect they would require an appraisal. Getting back to the baseball, though: I doubt the IRS would get involved until it was sold. A used baseball has no intrinsic value. The only value comes from what a sentimental collector is willing to pay for a piece of history. The IRS wouldn't likely waste its time getting involved until the baseball was sold. Once money changes hands, then the IRS take its share. If I were Mr. Murphy, I might cut a wedge out of the baseball and mail it to the IRS as my tax payment. Determining the value of memorabilia and collectibles is not easy. These things generally have no intrinsic value, so their worth is entirely arbitrary. (Kind of like our fiat currency! Zing!)

When I was buying renters’ insurance, they asked was whether I had any collectibles. They need to know the value of collectibles beforehand, and I suspect they would require an appraisal.

Getting back to the baseball, though: I doubt the IRS would get involved until it was sold. A used baseball has no intrinsic value. The only value comes from what a sentimental collector is willing to pay for a piece of history. The IRS wouldn’t likely waste its time getting involved until the baseball was sold. Once money changes hands, then the IRS take its share.

If I were Mr. Murphy, I might cut a wedge out of the baseball and mail it to the IRS as my tax payment.

]]> By: Thainamu http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-809 Thainamu Tue, 28 Aug 2007 18:47:22 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-809 Would our tax problems be solved if we went to a consumer tax instead of an income tax? Would our tax problems be solved if we went to a consumer tax instead of an income tax?

]]> By: Jasen Tracy http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-810 Jasen Tracy Tue, 28 Aug 2007 20:23:21 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-810 I hope they don't find out about my baseball card collection... I hope they don’t find out about my baseball card collection…

]]> By: Darius http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-812 Darius Tue, 28 Aug 2007 22:42:01 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-812 Jasen, you've been reported... Jasen, you’ve been reported…

]]> By: Ornot the Majestic http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-813 Ornot the Majestic Wed, 29 Aug 2007 00:15:03 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-813 While it is doubtful that the IRS would have gotten involved if he never sold it, there was indeed talk to it. This was due to them applying the same rules as say, inheriting a house, as getting this baseball. Your "worth" increased, so therefore the government "deserved" its "rightful" share. And Thainamu, yes, some of these problems would indeed be eliminated by removing the income tax. That still wouldn't keep me from my anti-tax rambles, though.... ;) While it is doubtful that the IRS would have gotten involved if he never sold it, there was indeed talk to it. This was due to them applying the same rules as say, inheriting a house, as getting this baseball. Your “worth” increased, so therefore the government “deserved” its “rightful” share.

And Thainamu, yes, some of these problems would indeed be eliminated by removing the income tax. That still wouldn’t keep me from my anti-tax rambles, though…. ;)

]]> By: Darius http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-814 Darius Wed, 29 Aug 2007 10:10:38 +0000 http://zealfortruth.org/2007/08/irs-if-its-worth-something-to-you-its-worth-something-to-us/#comment-814 Hey Colin, I got a PM from you a couple weeks ago, didn't notice a need for a reply. Was there some other PM that I should be looking for? I can't seem to access PM's on here right now. You can email me at (periods removed, of course) t.e.i.c.h.r.o.d@hotmail.com Hey Colin,

I got a PM from you a couple weeks ago, didn’t notice a need for a reply. Was there some other PM that I should be looking for? I can’t seem to access PM’s on here right now.

You can email me at (periods removed, of course) t.e.i.c.h.r.o.d@hotmail.com

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