Fear the 1099 or Please Pay me F&F 1 1

[ttfitz]

3 hours ago, shadroch said:

I feel like I stumbled into a taping of Drunken History.   The 16th Amendment was passed by Congress in 1909 and ratified by the states in 1913.

It might be that anyone who thinks it was passed to fund the Civil War is just a bit off on their facts.

Drunken History is an accurate assessment, as there are two different sets of facts being conflated here.

[ttfitz]

3 minutes ago, Xenosmilus said:

5 minutes ago, ttfitz said:

"No State shall ... make any Thing

 

I would post this in the Out of Context quotes thread, but while it is by the letter of the thread, it is not in the spirit of it. 

[shadroch]

1 hour ago, ttfitz said:

Drunken History is an accurate assessment, as there are two different sets of facts being conflated here.

Martin Luther King was nailed to the doors of church and made to eat a diet of worms.  

[fastballspecial]

On 7/11/2021 at 9:27 AM, ThatNerdyCanuck said:

I'm surprised PayPal doesn't crack down on the amount of FF Payments some people are receiving, you would think they would catch on. 

It does all these peple crying about their PayPal account getting shut down about 80% I would bet were doing f&f and or some sort of wacfle.

Edited July 12, 2021 by fastballspecial

[fastballspecial]

5 hours ago, WEBHEAD said:

I still say  if your retired and want to sell books..... just do it  you most likely are in the less then 28% bracket.  Now if I find an Action #1  in a wall because someone used it for insulation and sell it to a dealer in a convention who gives me a 1099?   This really impacts dealers not the small collector

Until the 1099 shows u didn't expect.

[awakeintheashes]

So here is an actual question that may provide for useful dialogue…

Does anyone have inventory management/tracking recommendations for easily tracking cost of goods sold? Anything besides entering purchases/logging each book from a purchased collection into a spreadsheet.

Edited July 13, 2021 by awakeintheashes

[bpc3qh]

22 hours ago, Wolverinex said:

so in the original constitution only gold and silver were allowed as currency since there is a finite amount.  Look it up. 

Income tax doesn't even show up until the 16th amendment.... 

Both of those things are factually incorrect. There was paper currency throughout the early Republic--it was just backed by gold. Additionally, there were income taxes prior to the 16th Amendment--during the Civil War, for example, via the Revenue Act of 1864 (which was upheld by Springer v. United States, 102 U.S. 586 (1881)), as well as the income tax coming out of the Wilson-Gorman Tariff Act, which was struck down in Pollock v. Farmers' Loan & Trust Company, 157 U.S. 429 (1895). The latter decision was the inspiration for the 16th Amendment itself.

[WolverineX]

34 minutes ago, bpc3qh said:

Both of those things are factually incorrect. There was paper currency throughout the early Republic--it was just backed by gold. Additionally, there were income taxes prior to the 16th Amendment--during the Civil War, for example, via the Revenue Act of 1864 (which was upheld by Springer v. United States, 102 U.S. 586 (1881)), as well as the income tax coming out of the Wilson-Gorman Tariff Act, which was struck down in Pollock v. Farmers' Loan & Trust Company, 157 U.S. 429 (1895). The latter decision was the inspiration for the 16th Amendment itself.

Okay great.  

My intent was to say that our original founders wanted currency backed by gold.  After it got decoupled, the system became corrupted as money got printed out of nothing.  

And I was saying Income tax was not written into the constitution itself until the 16th amendment.  

[bpc3qh]

4 minutes ago, Wolverinex said:

My intent was to say that our original founders wanted currency backed by gold.  After it got decoupled, the system became corrupted as money got printed out of nothing.  

And I was saying Income tax was not written into the constitution itself until the 16th amendment.  

Sure--I just wanted to make the record clear that there's a difference between what the Founders may have wanted (which is all very speculative), what actually happened, and most especially what has been legal. It's also, to me, totally irrelevant what the Founders wanted--they wanted a lot of things that we absolutely should not pursue as policy goals today, and the fact that patricians in 1789 wanted them is not an endorsement.

[WolverineX]

10 minutes ago, bpc3qh said:

Sure--I just wanted to make the record clear that there's a difference between what the Founders may have wanted (which is all very speculative), what actually happened, and most especially what has been legal. It's also, to me, totally irrelevant what the Founders wanted--they wanted a lot of things that we absolutely should not pursue as policy goals today, and the fact that patricians in 1789 wanted them is not an endorsement.

That is true.  I just wanted to point out that many things people assumed always existed (ie income tax) ,  in fact did not when the country was founded. 

Edited July 13, 2021 by Wolverinex

[bpc3qh]

Just now, Wolverinex said:

That is true.  I just wanted to point out that many things people think (ie income tax)  always existed,  but in fact did not when the country was founded. 

Fair enough. I just want to challenge the relevancy of that, but I recognize what you're trying to do. Things like the modern social safety net didn't exist when the country was founded (hell, it didn't exist until the 1930s at the earliest), so I just want to push back on the importance of these types of arguments.

[WolverineX]

1 minute ago, bpc3qh said:

Fair enough. I just want to challenge the relevancy of that, but I recognize what you're trying to do. Things like the modern social safety net didn't exist when the country was founded (hell, it didn't exist until the 1930s at the earliest), so I just want to push back on the importance of these types of arguments.

No, I appreciate the information.  You are obviously very educated in this field, and it's always good to learn something new. 

[fastballspecial]

2 hours ago, shadroch said:

Martin Luther King was nailed to the doors of church and made to eat a diet of worms.  

Let's not get this thread locked for petty arguments please let it go both of u

[Professor K]

13 hours ago, Wolverinex said:

Okay great.  

My intent was to say that our original founders wanted currency backed by gold.  After it got decoupled, the system became corrupted as money got printed out of nothing.  

And I was saying Income tax was not written into the constitution itself until the 16th amendment.  

I know you weren't replying to me , but let me say you're correct. Talking history of course and not politics. The original founders and politicians did want that. But enough were soon corrupted and it didn't last long.  It started out with every colony having its own currency. Then the private bank of england decided they were going to force the colonies to use their bank notes instead, with interest of course. the result- the Revolutionary War. The colonies got their independance and printed their own currency but it didn't take long (1791) for the bank of england to send over Alexander Hamilton to bribe enough politicians and/or threaten impending war to pass another currency act giving the bank of england control of the nations currency, with interest. So although the colonies did win their independance they were still in debt to the bank of england. 20 years later congress decided not to renew this currency act and give control of the currency back to the states, with no interest.  The result - The War of 1812 when England, financed by the private bank of england attempted to take back the colonies under their control. The US won of course.

However the States were broke after the war and had little choice but to accept a new charter for a currency act from the bank of england called the 2nd Bank of the USA. So even though England lost the war the bank of england still got what they wanted.

When the south seceded Lincoln refused to use the banks to finance the war and instead printed his own US currency called the Greenback to finance it. This nearly led to a World War as England and France (backed by the bank of england) nearly joined the South to defeat the North, but they didn't because Russia made it clear they would have joined the North if France or England interfere. Russia at that time did not use a private bank to control their currency. In the end the North won, the South returned to the union, Lincoln was assassinated and the control of the currency went back to you guessed it, the bank of england aka the 2nd bank of the usa. 

Then years later the 16th amendment was created which made federal income tax a law followed quickly by the private federal reserve bank being created (basically the 3rd bank of the USA) and taking control of the currency followed soon after by a world war and a massive amount of debt to the banks. Enough of the history lesson. I wasn't planning on writing all this but once I get started............

PS up until the 1940's people were expected to pay their federal tax at the end of the year. However it went up a lot after WWII due again to the massive debt that wars create and they knew many wouldn't pay it. That's when the created the federal witholding tax system which made employers act as agents of the i r s and send the tax money directly to them "on behalf" of the people. 

 

 

Edited July 13, 2021 by Professor Chaos

[theCapraAegagrus]

13 hours ago, ttfitz said:

Finally, this is also incorrect. And blatantly political, not that I care.

Incorrect, as usual.

[Buzzetta]

5 hours ago, theCapraAegagrus said:

Incorrect, as usual.

I would love to hear this argument without the mods giving anyone a strike.  PM me if you want.  
 

I actually want to hear the argument. 

[theCapraAegagrus]

[jcjames]

LOL! 

I first skimmed this thread when it was halfway into page 1. Then I checked in again going to page 6. Is this the same thread? 

 

[WolverineX]

13 hours ago, Professor Chaos said:

I know you weren't replying to me , but let me say you're correct. Talking history of course and not politics. The original founders and politicians did want that. But enough were soon corrupted and it didn't last long.  It started out with every colony having its own currency. Then the private bank of england decided they were going to force the colonies to use their bank notes instead, with interest of course. the result- the Revolutionary War. The colonies got their independance and printed their own currency but it didn't take long (1791) for the bank of england to send over Alexander Hamilton to bribe enough politicians and/or threaten impending war to pass another currency act giving the bank of england control of the nations currency, with interest. So although the colonies did win their independance they were still in debt to the bank of england. 20 years later congress decided not to renew this currency act and give control of the currency back to the states, with no interest.  The result - The War of 1812 when England, financed by the private bank of england attempted to take back the colonies under their control. The US won of course.

However the States were broke after the war and had little choice but to accept a new charter for a currency act from the bank of england called the 2nd Bank of the USA. So even though England lost the war the bank of england still got what they wanted.

When the south seceded Lincoln refused to use the banks to finance the war and instead printed his own US currency called the Greenback to finance it. This nearly led to a World War as England and France (backed by the bank of england) nearly joined the South to defeat the North, but they didn't because Russia made it clear they would have joined the North if France or England interfere. Russia at that time did not use a private bank to control their currency. In the end the North won, the South returned to the union, Lincoln was assassinated and the control of the currency went back to you guessed it, the bank of england aka the 2nd bank of the usa. 

Then years later the 16th amendment was created which made federal income tax a law followed quickly by the private federal reserve bank being created (basically the 3rd bank of the USA) and taking control of the currency followed soon after by a world war and a massive amount of debt to the banks. Enough of the history lesson. I wasn't planning on writing all this but once I get started............

PS up until the 1940's people were expected to pay their federal tax at the end of the year. However it went up a lot after WWII due again to the massive debt that wars create and they knew many wouldn't pay it. That's when the created the federal witholding tax system which made employers act as agents of the i r s and send the tax money directly to them "on behalf" of the people. 

 

 

Thank you Professor.  That was a great write up.  No surprise to me that the 16th amendment coincided so closely with the creation of the federal reserve. 

[HighVoltage]

40 minutes ago, jcjames said:

LOL! 

I first skimmed this thread when it was halfway into page 1. Then I checked in again going to page 6. Is this the same thread? 

 

Have you met the CGC boards?
Stuff like this can happen at any time!!!