Search the Community
Showing results for tags 'cash'.
Found 1 result
Boris Rarden posted a topic in EconomicsIs there a legal loop-hole that would allow to build a physical or virtual community that can avoid paying taxes ? Let's say "income taxes" ? For example -- a community based on barter ? IRS says that barter is still income taxable. However, is there a legal way to barter in a way that there is no paper trail that IRS can latch on ? Maybe some other tricks? For example, if all members of a community are getting stock of the company, instead of money, and then use the stock as currency, among themselves -- would it still be income taxable? Ordinarily stock must be sold, to be taxed as income. Would this still qualify as barter? Perhaps, the structure can be registered in another country, say offshore zone -- but people can live in their homeland ? If there is no paper trail, and all transactions are in cash, can IRS implement an income tax system in a practical way ? If a loop-hole exists, and we discover it, would the government be able to to issue new laws, closing the community down ? What would it take to issue such new bill or ammendment ?