Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: eyedigress

Well, the $50 (nominal value) coins were worth lots more than face value in recent times. It would be very interesting to see what the US government would do if people were paid in US eagles, and declared income in the face value of the US coinage given to them, paying the appropriate tax on the stated face value. Very interesting, indeed.


157 posted on 11/06/2007 10:14:07 PM PST by GregoryFul (is a bear a bomb in a bull?)
[ Post Reply | Private Reply | To 155 | View Replies ]


To: GregoryFul

On second thought, the US government would probably say that the $50 nominal face value of the coin wasn’t the real value of the coin, and the receiver of same would owe income tax on $800 of ordinary income for every coin received (at least today) no rational needed - just pay us or else.


158 posted on 11/06/2007 10:19:55 PM PST by GregoryFul (is a bear a bomb in a bull?)
[ Post Reply | Private Reply | To 157 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson