My first Christmas card of the season! CRAP!

[TheMercenary]

Originally Posted by spudcon

What will happen to all those IRS jobs if we get a flat tax?

What ever would happen it would be far better than what we have now.

[chrisinhouston]

Originally Posted by TheMercenary

What ever would happen it would be far better than what we have now.

When I was handling my late parent's affairs I was amazed at the size and scope of their tax return. My wife and I took over for them when my dad was about 90 and going blind and my mother was around 84 and in the final stages of Alzheimer's. Neither could handle their finances because of their ages and health issues. Their financial adviser had moved most of their investments to bonds and some limited partnerships and yet their tax return averaged between 32-46 pages in length. This for 2 old people who mostly lived off of their social security money and pension funds that had been converted to IRAs many years ago. I saw IRS schedules and forms that I have never seen before or had need of. Just crazy.

[TheMercenary]

Best thing we ever did was to form our parents revokable trusts before they died. No probate, no hassel. Upon death all assets just moved over. It took some work while they were alive getting things straight with the lawyers but man did it pay off in the end. We will do that before we get to the point we can't handle it.

[xoxoxoBruce]

I found it easier to just take away Mom's property/money, then dump her in a nursing home at taxpayer's expense.

[classicman]

Maybe a commission will be appointed. Then they can sit and discuss their options while your interest accrues.

Srsly, I've been there with them - IT SUCKS!

[Lamplighter]

If you owe the IRS, how about payment with a large block of the "forever stamps" and make your payment effective on 1/2/2011.

That's what some investors are planning

[glatt]

I don't get how forever stamps can be a serious investment. They are not legal tender. So you buy a million forever stamps for $440,000 on December 30th. (Let's ignore for a moment exactly how your are going to buy them, and assume it's possible to buy a million stamps at once.) Then on January 2, those stamps are worth $460,000. You just made $20k, right? Wrong. You need to sell those stamps to get your money out. Who are you going to sell a million stamps to? And why would they buy them from you, instead of the Post Office? Everyone who needs stamps will have bought a roll or two of forever stamps just before the price went up. They won't need new stamps for at least a year or so. So you're going to sit on a million stamps for a year, and then open a store to sell them? How long will that take? You'll do all that for a measly $20k? What are you, nuts?

Sure, stock up on a roll or two for your personal use. But stop there.

[Shawnee123]

Originally Posted by glatt

I don't get how forever stamps can be a serious investment. They are not legal tender. So you buy a million forever stamps for $440,000 on December 30th. (Let's ignore for a moment exactly how your are going to buy them, and assume it's possible to buy a million stamps at once.) Then on January 2, those stamps are worth $460,000. You just made $20k, right? Wrong. You need to sell those stamps to get your money out. Who are you going to sell a million stamps to? And why would they buy them from you, instead of the Post Office? Everyone who needs stamps will have bought a roll or two of forever stamps just before the price went up. They won't need new stamps for at least a year or so. So you're going to sit on a million stamps for a year, and then open a store to sell them? How long will that take? You'll do all that for a measly $20k? What are you, nuts?

Sure, stock up on a roll or two for your personal use. But stop there.

Yeah, I slyly gave my opinion of the forever stamp here. It was more of a matter of trying to kick start the post office, if'n you ask me.

[squirell nutkin]

Glatt, I think the writer was being facetious and drawing an analogy to how wacky and dangerous banks have become.

Willard: They told me that you had gone totally insane, and that your methods were unsound.
Kurtz: Are my methods unsound?
Willard: I don't see any method at all, sir.

[glatt]

Originally Posted by squirell nutkin

Glatt, I think the writer was being facetious

I just noticed it was an editorial. I was reading it like a news article, and couldn't believe how dumb they were being.

[monster]

In the Old Country (i.e. when i was a kid in England) The Post Office was government owned and operated, so stampos could be used as legal tender. Often mail-in things would request sending small payments in stamps or a money order rather than cash. Kid obviously didn't have checkbooks. I think companies could cash them in at the post office.

[xoxoxoBruce]

Originally Posted by monster

In the Old Country (i.e. when i was a kid in England) The Post Office was government owned and operated, so stampos could be used as legal tender. Often mail-in things would request sending small payments in stamps or a money order rather than cash. Kid obviously didn't have checkbooks. I think companies could cash them in at the post office.

Same here, Monster.