Monday, August 28, 2006

The IRS gets it right

Yes, you read the title correctly. I know there are a number of us who would think that statement could rarely be true - but an instance occurred last week which encouraged me to write this post.

It has been a tradition for some time that celebrities at the Oscars receive gift bags. In recent years, the bags have become multi-million dollar bonuses - the latest gadgets, vacations, jewelry, and even diamond studded underwear (really). Like any of these wealthy people need these things? As if they could not afford 225,000 of these items if they wanted? I realize that companies want to have a celebrity photographed using one of the said items since people tend to want to buy articles used by celebrities. (However, I have a hard time imagining wearing a size 0 jewel embellished thong.) I've been even more disgusted to hear celebrities talk about how they really look forward to all the free goodies.

Thank goodness there have always been some people with sense - like George Clooney - who would promptly give the bag to charity (to be used, to be auctioned for the money, whatever).

And now the IRS has finally caught on to the free bonuses - they announced last week the gift bags would be taxed. I hope most of the people impacted have enough sense not to be upset by this - and maybe even more will give the bags directly to be auctioned for charity. Better yet, maybe the companies will stop the practice and use those funds for charitable donations themselves.

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