On Wed, 21 Jan 2004 02:29:52 GMT, "G.R. Patterson III"
wrote:



James Blakely wrote:

So, what do you think?

I think that the typical AOPA member will have to sell whatever they give away
ASAP to pay the taxes, and it's great that the planes they are giving away are
valuable enough for me to afford to do something nice with what would be left
over if I won one of them.

If I win the WACO, I can sell it and have about $150k left over after taxes. That
will buy a very nice, useful airplane.

George Patterson
Great discoveries are not announced with "Eureka!". What's usually said is
"Hummmmm... That's interesting...."

Americans get taxed on material prizes as well as cash? Wow! It makes
winning a new car or house or plane or whatever a burden to the wrong
person!