Did anyone else see this little gem? The federal government, by enacting a ban on the sale of anything containing bald eagle parts, wants to value a sculpture containing a stuffed bald eagle at $65 Million dollars and collect a tax of $29 million on its inheritance by the sculpture's heirs, but the sculpture can't be sold to pay the tax due to federal law and auction house experts have thus placed the value, not at $65 million like the IRS is attempting to do, but at $0 because no one can purchase it.
You could be right, he already died, so probably no charitable deduction now. Poor guy should have checked out in 2010, the only year for zero estate tax. What a f*ked up tax system.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
And this was not hidden and if it was in your media sources, all that means is that the company you were getting your news from thought they would sell more ads with other news, since that is the only reason they share any information with you.
I say this is a lot like the local assessor and the solution is obvious. If a govt entity decides on a value of something and then taxes you based on that value, they should be required to buy it at 80% of their value as long as the 20% profit they are sure they will get will cover the costs of selling the item.
So when they say your house is worth $300k in Park, they have to buy it for $240k if you are willing to sell because they can flip it for $300k and make $60k, far in excess of the taxes. For this art, they would have to buy it for $23.2 million and then the IRS can make almost $6 million on the sale when they surely sell it for full assessed price. They can then tax the guy that bought it the same tax, he will then pay or they can buy it and sell it again and just keep making $6 million over and over.
My sense is that this will backfire, the system is broken and stealing never works out for everyone, only the person doing the taking.
