Re: <nettime> Re: DEAR SANTA, I HEAR THE NORTH POLE IS MELTING

[ernie yacub <yacinfo@mars.ark.com>]

On Sunday 08 December 2002 04:24, you wrote:
> On Saturday 07 Dec 2002 17:52, ernie yacub wrote:
> > So Alan, we offer you this tool as a gift.  Treat it well and
> > it will give you the guts you asked
> > for....http://www.openmoney.org
>
> Isn't LETS just a form of tax evasion, which allows you to
> benefit from public services without paying for them?

Nope, taxes are due on anything that goes through a point of sale or set of 
books just like normal money.  The tax people are very clear on that point 
and they may audit the system's books.  By the same token, LETScc donations 
to registered charities are treated as tax credits.

Of course the LETS cash on smart cards may get moved from card to card 
without anybody but the two participants knowing, just like cash under the 
table.

We advise people to treat it the same as normal money and pay their taxes.

ernie

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