Feds to tax TX residents' eminent domain payments/checks

[rainbow4321]

The people who are having to give up their homes for the new Cowboy Stadium just got yet another slap in the face---the money that they will be given for their homes/businesses...they have to claim it on their federal income taxes as "income". That just seems so wrong..the government "takes" your home and YOU owe THEM $$??


http://www.nbc5i.com/news/4767754/detail.html


ARLINGTON, Texas -- Arlington and the Dallas Cowboys continue taking steps toward a new football stadium within the city limits. One of the steps involved mailing relocation checks to residents and business owners whose properties are condemned under eminent domain rights.

Residents and business owners, however, learned that the relocation payments come with strings attached. People receiving the payments likely would be required to report income from the relocation checks on their federal income tax returns.

More business owners they originally projected are learning they could be forced under terms of eminent domain to give up their property to make way for the new stadium. Owners of businesses along the east side of Collins Street between Randoll Mill Road and Sanford Street were not included as late as last month in the area set aside for the stadium. Now, city officials said stadium plans would require the area.

"They need to up their bids, then, if we're going to have to pay taxes on it," Kate Pritchard said. "To be honest with you, I haven't been here long enough to make enough money to pay taxes on the moving expenses."

[Tux]

1. Aawwww

The libertarian dream at last.

[lvx35]

2. hahahaha!

Oh yes. property rights for all. The repukes have really delivered on that one!

[Tux]

4. But

Don't libertarians support a fascist merging of gov and biz over personal rights as long as profits are to be made? That is what I get from libertarian sites.

[lvx35]

5. I hope you're kidding...

I just don't see the :sarcasm: tag.

No, obviously, that's not what libertarians support, if you're serious. They support minimal government period.

[Tux]

7. Nope

I'm not kidding. I ran into libertarians in forums and offline. They support removing unions, min wage, some labor laws, and such so corporations can make a profit. One told me that my rights ended at profits. A sacrifice so the economy can operate.

[lvx35]

8. That's my ex-party you're talking about.

and they are way more deep than that. I could start by saying that they are pro-gay, pro-religious freedom, pro-abortion, pro-drug rights. They also have pretty reasonable ideas about free market, and make strong arguments...they basically believe in small goverment. So for instance, if you contrast the Bush administration, which has paid like 100 billion dollars to favored corporations in the Iraq war (including Halliburton) to the libertarian party, there are big differences. The republicans believe in big government to pay big corporations, or corporate infultration of all powerful government, while the libertarians believe in limiting the government so there is not so much to control for the corporations. Its a good point.
I don't support them anymore, but if you are wasting breath criticizing this third party instead of the repubs, you are wasting your time. They are fine guys, and they DO convert to this party, I am living proof.

[Tux]

9. OK

http://en.wikipedia.org/wiki/Libertarism
Is above libertarianism?

As I said, libertarians I talk with promote offshoring/outsourcing, recent lack of property rights, and removal of labor laws. Libertarian Party also supported removing min wage since it's save money for biz. So which is the correct core of libertarism?

[lvx35]

11. Disagree with them all you want, but give blame where blame is due.

And the uniquely republican combination of corporations and state is not to be blamed on the libertarians. This corporatism is republican in its roots, its fascist in nature. The anti-authoritarian MINORITY that is the libertarian party did not cause this, so don't blame them. IF they were in power, the Iraq war would never have been funded. Give em a break.

[Tux]

13. Chill

Sheesh, calm down. I am merely telling you what I have been hearing from libertarians.

http://www.lp.org/issues/platform_all.shtml#economy
The repeal of all controls on wages, prices, rents, profits, production and interest rates.

So no min wage, artificially priced markets, no regulations for rent, profit I can see as long as legal which goes for production, but interest rate should be more tied to the markets rather than gov made. Thanks to Greenspan, I don't make much off CDs.

But, wouldn't deregulating things end up like S&L when it was deregulated?

[lvx35]

15. oh, I don't want to spend much time arguing for them.

But I will say that the driving muse behind the libertarians is minimal government, or anti-authoritarianism, and the belief in a natural order that arises from it. But I don't want to go into it, its a different world from this.

[Matariki]

10. if only they were more green

i can't help but noticing that most people would piss in their own (and their neighbor's) drinking water if not for gov't legislation. otherwise i *almost* agree with them. oh that, and the distribution of resources and ownership of 'means of production' problem.

[lvx35]

12. Fully agreed.

That's part of why I came to this party. Greeness and Healthcare and Unions. But they still have a lot of good points, and I take them* into consideration when it comes to doing what I can to make this party more effective, and more aggresive. We can learn a lot from them that we can take to battle against the repugs, in my humble opinion.

*Libertarians.

[ClassicDem]

16. I digress on the Libertarian dream,

to begin with Libertarians oppose government confiscation of an individuals property and second they oppose taxation.

[bluestateguy]

3. Reply

The government takes your home or business to build a privatley owned football staduium, where most working people won't be able to afford the tickets. Then taxes you for the reimbursement of your property and then uses those tax dollars for the Iraq War.

Sounds fair.

[Why Syzygy]

6. Nothing new ..

How do you think gwb built the Rangers stadium in Arlington?

Same game, different day.

This is one thing that seems just WRONG. There is no such g-d thing as "property ownership" in this country. Just try not paying property taxes. It never belongs to US. That's just WRONG.

[rainbow4321]

18. Landowners sue city for taking land for Dallas Cowboys stadium

http://www.mysanantonio.com/sharedcontent/APStories/stories/D8BJLKR8N.html


Property owners near the site of the new Dallas Cowboys stadium have sued the city of Arlington to stop officials from taking their land. The lawsuit by 11 property owners alleges that the city is violating the Texas Constitution by using powers of eminent domain to condemn homes for a football stadium, according to records filed Tuesday in the 141st District Court in Tarrant County.

"We'll go to the state Supreme Court if that's where we've got to go to win it," said the homeowners' attorney, Glenn Sodd. "Forcibly taking my clients' property from them to give to another private property owner — I can't imagine anyone thinks that's fair, or American or legal."

Arlington has offered homeowners market value plus $22,500 for moving expenses. Owners who force the city to condemn their property will not get the moving expenses, officials have said. The lawsuit says eminent domain can only be used where land is taken for public use such as school and roads.

The city may have a recent U.S. Supreme Court ruling on its side. The court ruled that economic development is a legitimate public interest justifying the use of eminent domain under federal law.

[banana republican]

14. NO GAIN RECOGNIZED

SEE IRC SEC. 1033; REG1.1033(A)-1

NO GAIN WILL BE RECOGNIZED IF REPLACEMENT PROPERTY IS PURCHASED WITHIN 2 YEARS OF THE CONDEMNATION. (EXTENSIONS MAY BE REQUESTED BUT NOT GURANTEED).

RESIDENCED MAY EXEMPT UP TO $500,000 IN PERSONAL RESIDENCE GAINS. 

[sandnsea]

17. personal residence only

Some of this is business. It's difficult to put a price on a business that might provide just a median income, but is at least consistent. Might not be able to reopen somewhere else. You aren't likely to be compensated for what you're truly losing, your livelihood. Even if you get a good sized settlement, you'd be taxed on it all at once; instead of what it's replacing which is several years of income.

This is what people should be complaining about instead of eminent domain specifically. People aren't getting honest compensation, whether it's a stadium, highway or community development project.