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Posted: 5/2/2007 5:34:14 PM EDT
| Has anyone ever heard any talk of ATF raising the $200 tax? I read that in 1934 that $200 was equivalent to 5 months pay for the avg American. I can easily imagine how a democratic congress along with a democratric President could one day say, gee, we hate guns, expecially NFA guns, and we like to raise taxes and spend all we can get our hands on, so let's raise the NFA tax to 5 months pay in today's dollars to say, $10 or 15,000. Anybody else wondered about this or heard any talk of it? |
READ MY LIPS, "NO NEW TAXES"! come on, our government loves us and looks after us. They are only concerned with our well being. They don't care about the pork bills that are funded every day. They only care about how well off the average American is doing. They are not in the business of raising taxes because they understand that if you raise taxes, you take money out of the average working man's pocket! They also understand that when taxes go up, so does inflation because employers are used to making a certain income and don't want to downgrade from that so they would simply raise prices on their product/service to make up the difference that would in turn raise inflation which would in turn ....well... thank goodness our government would never want to raise any kind of taxes. Gee, what a question. Ok, I know, income, SEP and SS taxes are not quite the same. It was just a good time to rant about taxes in general. |
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The $200 tax was set in 1934 because it was roughly the cost of a new Thompson SMG then, making it in effect a 100% tax. Every year or two, a weak rumor zips around the internet that the tax may be increased. And every time it gets checked out, no one in the halls of Washington has heard a word about it. It's just internet rumor. Let's face it, all the $200 taxes we pay each year aren't even a drop in the bucket in D.C. If the politicians decide to go after NFA items, it won't be a tax increase -- they'll be more aggressive and do something like Canada did, freezing all future transfers and outlawing inheritances: When the last living Canadian MG owner dies, there will be no more civilian MGs in that country. Ya want something to worry about, try that. 
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Ok, two things: Tony, is that really how it is in Canada (not that I would have ever dreamed they could possibly have MG's)? SO they have MG's but can't transfer them and once the last dude dies that's it? What happens to the MG's when the folks pass on? 2nd: Of course we have absolutely no way of knowing what will happen (if you do, I need some game scores and such so I can place some good bets) but I would think the more likely thing would be that if you own all of your NFA items through your LLC or Corp, then if you want to sell your NFA items you sell your LLC or your corp. You can't very well sell yourself as an individual or sell a Trust. If they stop transfers but say nothing about ownership, then I can sell all 7 of my stamps. However, they may cover that in some future ban. You just never know and you are rolling the dice in deciding. They may also say since LLC's, Trust's and Corps don't require a background check, only individual transfers are recognized and the rest are illegal. WHo knows! |
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My understanding of the Canadian law: Machine guns were banned in 1978, but current owners were grandfathered and could buy from each other. No inheritance was allowed, so as current owners die off, their MGs are either sold to other still-living "grandfathered" owners, or else they must be surrendered to the Canadian government. When the last "grandfathered" owner dies, civilian ownership dies with him. I do not know if Canada had the equivalent of corporate, or trust, MG ownership, and/or how it was affected by the ban. It is pure speculation if and how such a law would be structured here. Since many of the transferable MGs in the U.S. are owned by corporations, either as working tools of profit-making businesses or as investment/recreational assets, it would be interesting to see how a law might apply. You are correct, corporations are in effect immortal as long as dues/fees are paid, and that it one reason why I chose corporate ownership for many of my NFA assets. My understanding is that trusts do not share the "in perpetuity" aspects of corporations. Neither, of course, do people. 
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Apparently, he who dies with the most toys wins. |
There are about 5,000 to 6,000 legal MGs left in Canada (down from 10,000 when the law passed in '78). So the last man standing may have the world's largest civilian-owned MG collection. But talk about a hollow victory. 
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Hell, that's how it is in CA USA as I understand it. At least with their AWB. You had to register and they could not change hands or be handed down to family in death unless they went out of state. |
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