Ideas for Improving America
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Sprout
True... i was kind of assuming we were starting from
Tue Dec 11, 2012 2:53pm
192.86.118.96

scratch with none of the existing loopholes...

If someone gives you money it is income...

I think some extremely limited exceptions might be in order such as a person under the age of 16 can recieve money up to a certain dollar amount from a relative and not consider it income. So that when the parents give them a few dollars a day to buy lunch at school the kid doesn't have to pay income tax on that... I'm not worried about that because the parents are already paying taxes on it when they earned that income.

  • True, but this is constantly used to evade taxes.David F Mayer, Sun Dec 9 1:40pm
    The new tax code must consider ALL transfers as income, which is certainly NOT true at present. David F Mayer
    • True... i was kind of assuming we were starting from — Sprout, Tue Dec 11 2:53pm
      • What happens is that Mr X signs a contract with Y.David F Mayer, Wed Dec 12 1:44pm
        Y is required to pay, NOT Mr X, but Mr X's wife, son, daughter, dog, etc. Sure, it is taxable income, but such subterfuges permit the income and consequent tax to be spread to several individuals. Mr ... more
        • And when the audit comes in....Sprout, Thu Dec 13 11:33am
          And because it WILL when an 8 yr old claims 20K in income without being legally able to work, it will be amply clear that that money is actually compensation for Mr. X's job, and Mr X will then be... more
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