[Milsurplus] Hamfest Taxation

[J. Forster]

On State sales taxes at hamfests:

Perhaps 20 years ago, the Massachusetts revenuers showed up at the
biannual Boxboro, MA flea market. I don't think they got much and I've not
seen them at other ham fleas in the area.

On Federal taxes:

You may be willing to pay more, but IMO the Capital Gains tax is fraud.
You earn the money (and pay taxes on it once) then you buy an asset. If
you are really lucky (or smart) and that asset simply holds its value in
spite of inflation, then sell it, you will get screwed by the so-called
Capital Gain... even if the asset has not appreciated one penny in REAL
dollars.

The basis for CG tax is not indexed for inflation and this makes any long
term investment just foolish.

The Capital Gains tax is nothing but a tax on government deficit spending
and a total screw. But politicians love it! Money for less than nothing.

FWIW,
-John

================



> I was sent a notice once by the state of Ohio that I owed sales tax for
> selling at an Ohio hamfest. I threw it in the trash.
>
> Please forgive a short rant....
>
> I'm not against taxation. Paying Federal taxes on my income is a pleasure
> because it is the best bargain I get for my money--the opportunity to live
> in this wonderful country at so little cost. I would gladly pay much more
> (but don't tell them that). On the other hand.... 
>
> Taxing second-hand goods sales is an odious practice. Let's see, I paid
> tax on my income to get the money to buy the thing, the company paid tax
> on their income from making the thing, the original buyer paid sales tax
> when s/he bought the thing, the original seller paid tax on their profit
> from selling the thing, and what? Now I'm supposed to pay tax on it the
> SECOND time it is purchased? No deal. The statute of reasonable taxation
> has expired. All the money involved from start to finish has already been
> taxed multiple times. Enough is enough.
>
> 73, Don Merz, N3RHT
>
>  
>
>
> ----- Original Message ----
> From: Ken Kinderman <scr274 at gmail.com>
> To: Milsurplus at mailman.qth.net
> Sent: Thu, March 11, 2010 12:03:03 PM
> Subject: [Milsurplus] Selling at Hamfests vs. ebay etc.
>
> I agree with many on the list that, as disappointing as they are these
> days,
> hamfests can be a good alternative to the hassle of ebay, packing,
> shipping
> etc, for those of us who do it infrequently.
>
> Question: has anyone ever run afoul of state taxing watchdogs who are said
> to prowl the grounds of hamfests and other swap meets? Maybe it's just
> urban
> legend.
>
> But I don't think many of us carry a state business registration and tax
> id
> number in our back pockets, not to mention accurate books showing cash
> receipts and sales tax payables.
>
> There's always ER classifieds. Ray can use the money.
>
> Ken
> W2EWL
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