63 votes

Indian Blanket Auction - You won't believe this story

Indian Blanket Auction -

This man lost half of his leg and thought he might sell an old Indian blanket that he inherited from his family.Watch the auction! This is a wonderful 'rags-to-riches' story! Watch the guy’s face while the bidding starts to go up.

http://youtu.be/9cGlS05233Q

http://biggeekdad.com/201...

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hes going to cry even more

when he has to pay taxes...

It can be largely avoided if

It can be largely avoided if a cost basis high enough is established on the value when he got it. Considering its value was unknown prior to the auction it would be very difficult to set a cost basis. This auction is the only indication of its value. Thus, his 'gain' may be zero or close to it. With -good- tax help he may be okay.

As most here are aware, the income tax is likely illegal, but one criminal thing about it is that losses on personal property are not deductible but gains on personal property are. Even if these 'gains' are nothing more than numerical due to inflation. 'heads I win, tails you lose'.

I hate to be the one...

who poops in this bowl of happy oatmeal, but why is this guy on "disability"? Why are WE paying him to sit home do nothing? How is it that the government says that we have to give this man monthly payments because he was in an auto accident? Should he not be getting help from family, friends, church, non-profits, etc.? Don't get me wrong, I feel bad about his plight, but I'm currently unable to find work and on the financial ropes, too...and there's no help for me...and I wouldn't ask for it anyway! I guess this "disability" crap gets under my skin as nearly 50% of my county seems to be getting a government check for disability while they're prefectly capable...they're all just sorry-asses who sit home and smoke meth while waiting for the mailman to deliver a check from you and me.

------------------
BC
Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry

There are many forms of

There are many forms of "disability". You are assuming SS disability, however he could be getting that from a private insurance policy. If it's from a private insurance company that is by contract and thus perfectly acceptable.

nice story

Now how he avoids taxes? Should he buy gold?

This made The Granger cry

I'm not supposed to cry. But what a beautiful story. I feel his ancestors were looking out for him. What a nice man, a beautiful wife, and I pray they have continued good blessings!!!

Granger..This Vids For You!

Glad i Found This Gem For Ya...Made Me a Little wet in the eyes as well

Thank you emalvini

It is a GEM, and I had to go for a walk.. beofre I sat beack down, I said, "Yep, That story made me cry." sniff sniff.. Arrrg. GOOD STORY!

THANK YOU!!!!!! And blessing to YOU emalvini for sharing it, especially with me!

Two things

1. I think I heard the appraiser say that in 1840 this blanket would have cost around $50-$60. That is $50-$60 dollars in gold backed currency. If gold has held it's purchasing power then that blanket, if produced today, would cost somewhere close to $5000. That is assuming that the wool, dye, labor and resources to produce it, as well as the effort to produce the gold that would buy it, are equivalent. I don't think they are.

2. The auction brought in 1.5 million dollars for the blanket. The auction value is not based on the value of the blanket as a good, but rather on it's historical value. The blanket was made before the treaty of 1868 which more or less started the end of traditional Navajo culture and began the "Westernization" of same.

Extorted theft called tax and sales fees

he walks with seven hundred thoussand if lucky. Still a nice gift from, Indian nation that was genocided and from his ansestors.

sovereign

good luck

But, this is a strange story. The beginning I mean. Guy lost his leg and is doomed to be on 800 dollars alms. There are so many jobs he could be doing and learn something. Come on...

Do you understand how they set up "disabled" people?

One day, the way he made money was gone. POOF! The next day, as he lay in shock and depression, despair began to creep in... how would he pay the bills? Well, an angel showed up and got him on disability. Time goes by... he decides to look for a part time job, and finds out he can only make so much money or they will take his GUARANTEED income away. Or maybe he wants to start a business - same thing plus he has to buy licenses and such out of his measly disability check, not to mention that government regulations are likely to prevent him getting anything off the ground, and the IRS will eat his profits if he manages to make any.
When you take traumatized people and put them into the disability system, you trap them in a box. I agree the system needs fixed (as in, done away with) but to blame the people for not breaking out of it on their own is not fair. It is designed to keep them ensnared.

Love or fear? Chose again with every breath.

ConstitutionHugger's picture

Pray for this man

I understand that it can ruin your life to come into this much money if you're not prepared. He's said he's never had anything, so I hope he gets a financial counselor or something- because uncle sam is going to steal it all from him. Don't overspend! Be careful!

Generally it is often the

Generally it is often the people around them..... Everyone want's a loan or what not.... Hopefully he doesn't visit casinos!

I once lived down the road from a huge empty lot. A couple won the lottery purchased the lot and proceeded to build a huge state of the art home. Within 3 years the home was up for sale because they couldn't pay the taxes.

They also had made large loans to family and friends... none to be found when this happened...

Finally!

A happy story!

Thanks!

" In Thee O Lord do I put my trust " ~ Psalm 31:1~

TAX

I was really uplifted by this story! My joy was shattered when I remembered what country I live in…. Half of that money is going straight into the hands of Uncle Sam :(

That Was My Next Thought

I was happy for this man...and then angry when I realized where half that money would end up.

come on...

it takes a lot of money to keep all those drones in the air.

And....

congressional pay raises!

" In Thee O Lord do I put my trust " ~ Psalm 31:1~

It was not like winning the lottery

It is a blessing from his ancestors.
That was awesome. And a reminder to silver bugs... Even if we die before silver breaks out, one day one of our grandchildren may have a moment like this.

Love or fear? Chose again with every breath.

Saving up

for the children and grandchildren that have yet to come into the world!

I believe in the freedom to be what we choose to be.

Makes me want to go through my linen closet :-)

.

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix