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To: Follies who wrote (64877)	7/25/2010 8:34:59 PM
From: Snowshoe	Read Replies (1) \| Respond to of 217734

>>there is no gain with capital gains<< There are two components: inflation and real gain. It's politically impossible to eliminate this tax, and horribly awkward to index gains for inflation. The pragmatic solution is to have a low cap gains tax rate, and the gold lobby should be pushing to scrap the special high cap gains rate on "collectibles" like gold bullion. It makes no sense to have a higher rate on gold bullion than on a gold mining stock. I agree that the vast expansion of 1099 reporting is absurd. But I'm just LOL about some gold bugs who, I strongly suspect, thought they could avoid paying cap gains tax.

To: Follies who wrote (64877)	7/26/2010 3:29:18 AM
From: elmatador	Respond to of 217734

Third world people think exactly like that: want free everything forgetting that there must be money to pay for all the goodies...

To: Follies who wrote (64877)	7/27/2010 12:39:09 PM
From: benwood	Read Replies (1) \| Respond to of 217734

"Third, there is no gain with capital gains, it is a result of the devaluation of the currency. Why should we be required to pay gains that are purely the result of the debasement of the currency by the government?" The majority of my gains of everything are due to debasement of our currency. By the way, the $600 reporting rule is actually far more nefarious than it sounds -- it's $600 in any given year, meaning all transactions must be recorded by nearly all sellers in case additional transactions push the buyer over the $600 threshold to trigger the requirement for a 1099-BB (Big Brother). Clearly, this is an attempt to monitor all purchases made by all people everywhere. No doubt the intent is to require all sales data to be uploaded to the BBB (Benevolent Big Brother) at the conclusion of the year. Later, in real time, so the BBBBB (Big Brained Benevolent Big Brother) can do the computations for the business and keep it's fist on the pulse of all Patriots.