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IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / On taxing barter
Post #309,795
by drook
Picture of drook
6/17/09 11:28:55 AM
Reply
New On taxing barter
Barter is one of the easiest ways to make a libertarian argument.

Let's say I help my neighbor paint his house. The next week he helps me build a deck on my house. Technically we just engaged in barter, and we both owe taxes on the work done. Why isn't this enforced? Because people clearly see that it's wrong. Not legal/illegal, but wrong.

Now what if it's a straight quid pro quo: You do this and I'll do that. Is that taxable?

How about if it's quid pro quo with someone who's not my neighbor?

Extend the argument, and you start asking, "Hey, yeah, why do I pay income taxes? I'm trading my labor for their money. Why don't I get to claim my labor as an expense to offset my taxes?" And that's why all these tax protesters keep getting hauled into court by the IRS.
--

Drew
Post #309,805
by jay
6/17/09 5:09:39 PM
Reply
New I don't see anything wrong
Let's say I help my neighbor paint his house. The next week he helps me build a deck on my house. Technically we just engaged in barter, and we both owe taxes on the work done. Why isn't this enforced? Because people clearly see that it's wrong. Not legal/illegal, but wrong.

I don't see anything wrong with taxing that transaction. I see a lot impractical, but nothing wrong. Taxes are applied to the exchange of value, money is simply a handy tool for keeping score.

Jay
Post #309,809
by boxley
6/17/09 5:46:54 PM
Reply
New keeping score is a bitch
I charge $175 for consulting, helping drew build a deck takes 10 hrs of my time. I should be able to take a tax loss of $1750 because I didnt get paid or do I offset drew's loss of $1750 for his 10 hrs painting my deck? either way no gain or profit has been realized
Post #309,811
by drook
Picture of drook
6/17/09 6:07:56 PM
Reply
New "no gain or profit has been realized"
If I charge $175/hour, and I spend 8 hours at work, that's 8 hours I wasn't doing something else. In other words, my time has value, and I just exchanged it. No profit has been realized. So say the tax protesters.
--

Drew
Post #309,815
by boxley
6/17/09 7:43:34 PM
Reply
New sounds good to me
however, I am happy to scam banks, insurance co's unions and other organized thieves but the IRS is one I leave strictly alone. One audit even tho I was not given a penalty is enough
     I like this and doubt the government has a case - (boxley) - (14) - June 16, 2009, 09:29:28 PM EDT
         TANSTAAFL. Better linky. - (Another Scott) - (13) - June 16, 2009, 11:11:32 PM EDT
             I have a duty to pay taxes - (boxley) - (12) - June 17, 2009, 08:07:21 AM EDT
                 Where did Kahre get the coins? - (Another Scott) - (11) - June 17, 2009, 08:21:56 AM EDT
                     do you have any pennies in a jar? - (boxley) - (10) - June 17, 2009, 09:06:43 AM EDT
                         0.34 cents is less than 1 cent, isn't it? -NT - (drook) - (2) - June 17, 2009, 09:09:06 AM EDT
                             Looks a little higher - (Andrew Grygus) - (1) - June 17, 2009, 09:39:42 AM EDT
                                 There was more then $.01 in a penny when it was copper - (jay) - June 17, 2009, 05:07:24 PM EDT
                         Depends on value received, deal made - (mhuber) - (5) - June 17, 2009, 09:32:50 AM EDT
                             On taxing barter - (drook) - (4) - June 17, 2009, 11:28:55 AM EDT
                                 I don't see anything wrong - (jay) - (3) - June 17, 2009, 05:09:39 PM EDT
                                     keeping score is a bitch - (boxley) - (2) - June 17, 2009, 05:46:54 PM EDT
                                         "no gain or profit has been realized" - (drook) - (1) - June 17, 2009, 06:07:56 PM EDT
                                             sounds good to me - (boxley) - June 17, 2009, 07:43:34 PM EDT
                         What did the pennies cost me? 1 cent. HTH. -NT - (Another Scott) - June 17, 2009, 11:54:59 AM EDT

...and if a hundred!
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