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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
 Posted - 06/29/2010 : 12:52:20
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Do you think there will be a rush to buy precious metals before the law goes into affect?
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SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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wayne1956
Penny Pincher Member
177 Posts |
Posted - 06/29/2010 : 13:32:37
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| If this goes into effect I may end up dumping my gold bullion and purchase silver coins, or purchase fractional gold bullion to where if I sell any of it I can stay below the $600 threshold. Stinking government needs to get out of our lives. |
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IdahoCopper
Penny Pincher Member
125 Posts |
Posted - 06/29/2010 : 13:51:55
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The new law only affects corporations. Individuals are not "included" in the definitions of "persons". See case law below.
(h) APPLICATION TO CORPORATIONS. – Notwithstanding any regulation prescribed by the secretary before the date of the enactment of this subsection, for purposes of this section the term ‘person’ includes any corporation that is not an organization exempt from tax under section 501(a).
“Expressio unius est exclusio alterius.” A maxim of statutory interpretation meaning that the expression of one thing is the exclusion of another. Burgin v. Forbes, 293 Ky. 456, 169 S.W.2d 321, 325; Newblock v. Bowles, 170 Okl. 487, 40 P.2d 1097, 1100. Mention of one thing implies exclusion of another. When certain persons or things are specified in a law, contract, or will, an intention to exclude all others from its operation may be inferred. Under this maxim, if statute specifies one exception to a general rule or assumes to specify the effects of a certain provision, other exceptions or effects are excluded.” [Black’s Law Dictionary, Sixth Edition, p. 581]
"When a statute includes an explicit definition, we must follow that definition, even if it varies from that term's ordinary meaning.” Meese v. Keene, 481 U.S. 465, 484-485 (1987) ("It is axiomatic that the statutory definition of the term excludes unstated meanings of that term"); Colautti v. Franklin, 439 U.S. at 392-393, n. 10 ("As a rule, `a definition which declares what a term "means" . . . excludes any meaning that is not stated'"); Western Union Telegraph Co. v. Lenroot, 323 U.S. 490, 502 (1945); Fox v. Standard Oil Co. of N.J., 294 U.S. 87, 95-96 (1935) (Cardozo, J.); see also 2A N. Singer, Sutherland on Statutes and Statutory Construction § 47.07, p. 152, and n. 10 (5th ed. 1992) (collecting cases). That is to say, the statute, read "as a whole," post at 998 [530 U.S. 943] (THOMAS, J., dissenting), leads the reader to a definition. That definition does not include the Attorney General's restriction -- "the child up to the head." Its words, "substantial portion," indicate the contrary." [Stenberg v. Carhart, 530 U.S. 914 (2000)]
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See - http://IdahoCopper.com
and:
http://beefjerky.com |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 06/29/2010 : 14:09:42
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| Well the article talked about how this would affect vest pocket dealers; those are coin sellers that don't have brick and mortor stores. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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jtlee321
Penny Pincher Member
USA
136 Posts |
Posted - 06/29/2010 : 14:14:08
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Regardless of whether or not tax will need to be paid on anyone's part, corporation or individual, a 1099 will need to be filled out for transactions exceeding $600.00. This sounds more like Big brother trying to track who is hoarding precious metals.
This sounds like preparation to confiscate PM's in the not too distant future. Now they will know who has what and how much they have.
My question is when will the sheeple of the United States wake up and realize that the current state of Government has become the King George of Colonial America?
We need to start educating our children of what is happening and stop sitting back and lying to ourselves by saying "Things can't get that bad". We are the frog sitting in the pot of water that is about to boil. The heat has been turned up slowly for the past several decades. Most people have not even noticed, but they will soon perish from there own naive nature. We need to make these people aware that it is not too late to get out of the water, but it may soon be..
Buy everything you can now. If you buy gold, buy fractionals. Things are going to get worse before they get better. Just start preparing for the worst now.. |
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Nickelless
Administrator
USA
5580 Posts |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 06/29/2010 : 16:15:43
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The gov does such a good job with our money now,why not give them more? |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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Nickelless
Administrator
USA
5580 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 16:58:01
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Oh boy,
Now I want to hear from all those who disagreed with us who didn't like the internet sales 20,000 limit before a 1099 is issued, "Because it won't affect most of you, if you keep good records it will be OK"
I felt like I was peeing on a flat rock while writing on that thread.
I want someone to resurrect that thread and let's review. Let's substitute this law with the Internet sales reporting requirement and re-read.
DON"T BE A BUNCH OF LAY-DOWNS.
This make me sick! |
Come to the new and improved realcent: http://realcent.org
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
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jtlee321
Penny Pincher Member
USA
136 Posts |
Posted - 06/29/2010 : 17:13:16
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quote:
Originally posted by thogey
Oh boy,
Now I want to hear from all those who disagreed with us who didn't like the internet sales 20,000 limit before a 1099 is issued, "Because it won't affect most of you, if you keep good records it will be OK"
I felt like I was peeing on a flat rock while writing on that thread.
I want someone to resurrect that thread and let's review. Let's substitute this law with the Internet sales reporting requirement and re-read.
DON"T BE A BUNCH OF LAY-DOWNS.
This make me sick!
Thank You!!
See what I am saying? This is what happens when people do not speak up and the minority of people start making decisions for the majority.. We damn well better start taking our country back before it is taken from us!!
I do mean in a civilized way of course. Contact your congressman and let them know your feelings and remind them that they work for you and not the President. If they wont listen to the person that employs them then they can be replaced by someone who will listen. We can still make a difference. If you sit back and do nothing you will have nothing! Exercise your rights before they are taken away.. |
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Roadrunner
Penny Collector Member
USA
413 Posts |
Posted - 06/29/2010 : 17:32:00
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| Far too many congressman are arrogant and really don't care what you think when you write them, but some do, so just flood them with e-mails and phone calls and tell your friends and family to do the same! We need to be active! |
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jtlee321
Penny Pincher Member
USA
136 Posts |
Posted - 06/29/2010 : 17:43:58
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If they are too arrogant to listen then make sure the people around you hear your message. If the people around you hear your message then it can spread. If enough people are enlightened by the message then that arrogant SOB gets his ass booted at the next election. Simple as that.
If your Congressman cares at all they will listen. If not then find another who will. Elections are coming up soon. Remind your Congressman of this. They are elected to serve the interests of those who elected them. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 06/29/2010 : 18:02:59
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| What 2 private parties do between them is there own business. Don't need to say anymore than that. |
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UDEric
Penny Pincher Member
USA
202 Posts |
Posted - 06/29/2010 : 19:48:36
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| Don't get me wrong, I totally agree that this is bogus. But it got me to thinking, it's not like the gov't couldnt just check out the tracking threads on this forum and have a rough estimate of who has what right? |
"Three things cannot be long hidden: the sun, the moon and the truth" |
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Nickelless
Administrator
USA
5580 Posts |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 22:33:19
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quote:
Originally posted by Nickelless
quote:
Originally posted by UDEric
Don't get me wrong, I totally agree that this is bogus. But it got me to thinking, it's not like the govt couldn't just check out the tracking threads on this forum and have a rough estimate of who has what right?
We can lie on line. Just because I'm Nickelless here doesn't mean I don't really have nickels.
Hey we'll do what we gotta do.
I want to read the opinions of those who are OK with this and why.
I believe there was a dealer or two who had no problem with the 20000 IRS limit for the 1099. What say you? Are you looking forward to ANOTHER bookkeeping exercise?
And you seller: you better come up with a cost basis for grandma's wedding ring before you sell it. Or the IRS will...NET YOU OUT on that income. Learn what it means people! |
Come to the new and improved realcent: http://realcent.org
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Edited by - thogey on 06/29/2010 22:34:07 |
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Nickelless
Administrator
USA
5580 Posts |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 22:46:22
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Hey Nickeless,
Review the thread I referenced above.
I want to read the positions of those who defended the $20,000 internet reporting limit.
I'm ready to rumble! This makes me so mad I might stop drinking! |
Come to the new and improved realcent: http://realcent.org
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 06/29/2010 : 22:54:16
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if im not mistaken this doesnt mean just keeping single buy or sell transactions under $600, this means under $600 total from any one dealer for the entire year.
my transactions are my own business. be it pm's, collector coins, guns, ammo, or whatever else.
my business.
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My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 23:00:26
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Yes just like paying a casual labor employee. 600 total to any one man you issue a 1099.
You collect a FED TAX Id form for the individual.
What an F'n nighmare!
Apparently your transactions are not only your business (only for dealers of course).
As a seller you better be careful. |
Come to the new and improved realcent: http://realcent.org
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Nickelless
Administrator
USA
5580 Posts |
Posted - 06/29/2010 : 23:09:04
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quote:
Originally posted by thogey
Hey Nickeless,
Review the thread I referenced above.
I want to read the positions of those who defended the $20,000 internet reporting limit.
I'm ready to rumble! This makes me so mad I might stop drinking!
I stopped reading at the link above when I got to the statement "we do have to pay them (taxes) if we want to have any semblance of a cohesive society." How did the U.S. survive before 1913 and the establishment of the Fed? I'm not anti-tax, mind you--I'm anti-misrepresentation in the name of my tax money. THAT is why I say we're being taxed too much for what we're obviously not getting. The only real cohesion in the country right now is in the hardening of the electorate against D.C. and vice versa. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 23:13:53
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quote:
Originally posted by Nickelless
quote:
Originally posted by thogey
Hey Nickeless,
Review the thread I referenced above.
I want to read the positions of those who defended the $20,000 internet reporting limit.
I'm ready to rumble! This makes me so mad I might stop drinking!
I stopped reading at the link above when I got to the statement "we do have to pay them (taxes) if we want to have any semblance of a cohesive society." How did the U.S. survive before 1913 and the establishment of the Fed? I'm not anti-tax, mind you--I'm anti-misrepresentation in the name of my tax money. THAT is why I say we're being taxed too much for what we're obviously not getting. The only real cohesion in the country right now is in the hardening of the electorate against D.C. and vice versa.
OK
Those are the types of comments from the members who need to step up and fight this one out.
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Come to the new and improved realcent: http://realcent.org
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/29/2010 : 23:16:06
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It's not just the taxes either, it's the hassel, the record keeping, and paperwork.
Ya'll need to be red-faced mad about this! |
Come to the new and improved realcent: http://realcent.org
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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New law must report $600 transactions
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