"Does that have a cap? What if the amount of the gift check is more than $10,000?"
Gift taxes kick in over $18,000. But that's per person to person. A married couple could give another couple $72,000 without incurring gift taxes.
But gift taxes are due from the giver, not the recipient ... unless the IRS can't find the giver, or the giver died and the taxes either can't or won't be paid. Then the bill is YOURS.
Same deal with payroll taxes: they're due from the employer, but the liability is yours; if the employers don't or can't pay, you'll get a bill.
That said, all of this is for the plebeians: the wealthy have GRATs, where UNLIMITED amounts can be given, inheritance-tax-free. Sheldon Adleson gifted $8 BILLION to his kids, avoiding about $3 Billion in taxes.
"the only reason China et al has been able to buy our bonds is because of their trade surplus, which also enables them to buy our land."
Gee, if only Republicans hadn't reset our fiscal sights from surpluses to deficits, we wouldn't have that problem, would we?