Post by joebill on Oct 19, 2021 13:32:34 GMT
I don't see it. If you sell off a few of your toys for cash, that is not really income. You bought them with cash years ago and never claimed them for a deduction, they are just toys.
You sell off your old rowboat for $601, put the money in the bank, don't claim it as income, they are gonna do what?
Multiply that times a hundred million rowboats or old pinball machines or dinette sets and they would be running the rubber off of the government fleet trying to keep track.
You buy a piglet for $25 cash. Feed it up and sell it for $150 cash. Put the cash in your pocket and use it on your daily expenses. Now, that IS income, but how do they trace it? All they are going to accomplish is to make folks more secretive and conniving.
Sure, they can go take down license numbers of the folks selling weekends at the local swap meet, but if those same folks went to the trouble of sitting down and calculating their true income tax liability and taking all of the legal deductions, half the time, the government would owe THEM money according to the recent wealth-transfer tax schemes.
I think it is just one more distraction from the current state of affairs.......Joe
You sell off your old rowboat for $601, put the money in the bank, don't claim it as income, they are gonna do what?
Multiply that times a hundred million rowboats or old pinball machines or dinette sets and they would be running the rubber off of the government fleet trying to keep track.
You buy a piglet for $25 cash. Feed it up and sell it for $150 cash. Put the cash in your pocket and use it on your daily expenses. Now, that IS income, but how do they trace it? All they are going to accomplish is to make folks more secretive and conniving.
Sure, they can go take down license numbers of the folks selling weekends at the local swap meet, but if those same folks went to the trouble of sitting down and calculating their true income tax liability and taking all of the legal deductions, half the time, the government would owe THEM money according to the recent wealth-transfer tax schemes.
I think it is just one more distraction from the current state of affairs.......Joe