History has jsut been made for Barry Bonds. But that isn't what caught my eye. The man who caught the ball may be making history too. Upon catching the ball, it became his property, and now the ball is taxable in the minds of the IRS. The man, Matt Murphy, who is a college student, could face a tax rate of 35% on the ball. That means he would have to pay $210,000 for a ball worth $600,000.Is the IRS in their right minds? There shouldn't be any tax on that ball! Is there any other tax on anyone else's home run ball? No. If Barry hit a foul ball would there be a tax? No. Even though it could be one of the most memorable baseballs in history, that doesn't mean Murphy should be taxed just to have it.
The only way to escape this possible debt is to sell the ball. Murphy would still have to pay the 35% tax just to have the ball in his possession. Last time the IRS did something like this, it was when Mark McGwire was breaking the single season home run record. The IRS was then ridiculed by the government and the politicians called them big fat losers.
So if I was Murphy, I'd be selling that ball right now. If he doesn't, the IRS could be knocking on his door.
