Word: hensch
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Dates: during 2000-2009
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...alternative currency is generally used in conjunction with conventional money; one may use local currency at the farmers' market and regular greenbacks at the supermarket. "It doesn't try in any way to replace cash," says Christoph Hensch, a Swiss national and former banker living in Christchurch, New Zealand. Rather, it offers a way "for people to share and redeem value they have in the community." He says the currencies are most useful in geographical areas or social sectors where money doesn't flow sufficiently, citing, for example, New Zealand's Golden Bay, which is so remote that it sometimes...
...slip fairly seamlessly into the national economy; their use is taxed like ordinary money. More abstract exchanges are a bit more complicated to deal with. But the tax concern is not insurmountable. "If you use local currency for your main income-generating activity, you must pay income tax," says Hensch, who consults in complementary currencies. Likewise, if you have a business, you'll pay sales tax on any local currency - in New Zealand, that would be Green Dollars, part of LETS - you bring in. But if you trade in "neighborhood help," like lawn-mowing, that would not be taxed...
...press time, the Willey-Snow interview led with 1,202 hits on You-Tube, followed by the Sundquist-Sarafa clip with 954 and Martel’s interview with 716. Martel’s campaign manager, Laura N. Hensch ’08, took the place of her running mate Leo P. Zimmermann ’09, who did not show up for the interview...