Middle Class Yankee Fan Gifts Jeter $300k Ball and Foots Bill

Topher Morrison
PurpleSerf.com

Middle class Yankee fan Christian Lopez 

and superstar millionaire Derek Jeter.  

Image Source: Al.com

Christian Lopez, 23, of Highland Mills, N.Y. caught Derek Jeter's 3000th hit on Saturday.  In a polite and humble gesture Mr. Lopez returned the ball to his "icon" and in the process was lavished with box seats for the rest of New York's home games this season as well as signed Yankee memorabilia.


These "gifts", valued at around $32,000, evidently caught Sauron's Eye according to the Daily News.  The Verizon salesman, according to the Internal Revenue Service (IRS), will be on the hook for an estimated $5000 to $13,000.  Mr. Lopez isn't too worried about it since friends and family will purportedly help him out in order to keep the seats.  According to Mr. Lopez, however, "...it would be cool if they'd help me out a little on this."


Eh, sorry Mr. Lopez don't think our beloved IRS is going to bend over backwards on this one, but for arguments sake lets break this down a bit.  Loyal fan, Christian Lopez gives up a ball that would have fetched him anywhere from $250k to $350k at auction and therefore the ability to pay the IRS accordingly, but instead gives the ball back to Jeter.  Where is the IRS on this one, isn't there more than one transaction here?  The headline should have read: "Middle Class Yankee Fan Gifts Jeter $300,000 Ball and Foots Bill."


Essentially what the IRS is saying is, in order for you to receive and enjoy gifts they must be commensurate with your pay grade.  Can't pay the tax, give up the gift.  In other words, a grocery store clerk can't just receive a Hawaiian getaway and not pay the state for its value and a local mechanic can't just receive a cherry 64' Malibu Super Sport for a Pimp My Ride contest without ponying up on his next tax return.


This may be the law, but is this how our government should work?  Of course not, but this exemplifies what happens when you live under the most complicated tax system in the world, anything and everything is subject to tax.  This type of system, which taxes you before you even get paid, is exactly the type of tax regime that will also tax you on what should be a pleasure in life, receiving a gift or prize.  Gifts and prizes should be exactly what they sound like - freebies.


One more reason why this country would be better off with a Fair Tax, also known simply as a flat tax.