Three Cheers for the State - RAH RAH RAH
Steve Furlong
sfurlong at acmenet.net
Tue Apr 22 17:27:32 PDT 2003
On Tuesday 22 April 2003 17:39, Tyler Durden wrote:
> Strangely, in some parts of the country the system has so
> proliferated some communities that they have issued "money" that can
> be spent in local shops. This money is "backed" by X hours in the
> time bank. There're some people who actually collect these time bank
> tokens.
>
> Now for some reason, there was a lot of talk about these time banks
> back in the mid 90s, but now I rarely hear about them. I wonder if
> the potential loss of tax revenue was a factor.
The IRS claims jurisdiction over all time banks and barter exchanges.
Each participant is required to provide his SSN for reporting, and all
transactions must be logged. Taxes must be paid for time worked.
> Hum...it'd be interesting to look at securing one of those local time
> banks with financial cryptography.
But, but, but...that would be tax fraud. You'd be aiding terrorists. And
think of the chiiiiildren.
--
Steve Furlong Computer Condottiere Have GNU, Will Travel
Guns will get you through times of no duct tape better than duct tape
will get you through times of no guns. -- Ron Kuby
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