Word: taxed
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Dates: during 2000-2009
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Paper-money currencies, like BerkShares or the Lewes or Totnes Pound, 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...
...rules vary from country to country. In the U.S., any business transaction must be recorded and reported to the IRS; tax levies apply as if the trade were made in cash. As Squires puts it, professional services are subject to income tax, but for noncommercial transactions, barter rules hold. "If I bake a cake for you, that's not a taxable event," he says...
...that “by the time people voted, [the war] wasn’t the issue that I think was driving their vote. I think the economy was driving their vote, and I would argue that the biggest Faustian bargain McCain made was switching his position on the tax cuts...
...Iraq, an adventure that American voters soured on years ago. Axelrod chimed in to disagree. "There is no doubt that the war was a complicated issue," he said before adding, "I would argue that the biggest Faustian bargain McCain made was switching his position on the [2001 and 2003] tax cuts ... He essentially tied himself to the Bush economic nostrums...
...would-be allies. If anything got passed, says Duffett, legislators "knew the governor would get credit for it." There was also the misguided audacity of his political tactics. He tried to fund his health-care plan, for example, in a budget that included one of the largest proposed tax increases in Illinois history. He lost that battle in humiliating fashion, garnering not a single vote in the state house of representatives. His attempts to privatize Illinois' downtown office property failed miserably as well...