David Wolfe

David Wolfe Page Liked · January 13 · Like Like Love Haha Wow Sad Angry CommentShare Top Comments 6.5K David Wolfe and 6.5K others 2,736 shares 217 Comments Comments Andrew Say Andrew Say It's a lovely fluffy idea. A bit of bartering is cool, but it is very primitive and cumbersome. Money is the best part of the best barter system of them all. If you were a potato farmer, Imagine carting sacks of potatoes everywhere you went, like the cinema for instance. What if they didn't want any more potatoes, and you didn't want a bread roll for change. Lol And tax, tax is awesome. If you want public roads, bridges, a police force, hospitals, schools, emergency services, fire brigades, public sporting facilities, boat ramps, town parks, national parks, etc . . . Someone has to pay "taxes" with "money" so these things will be funded. Isn't reality horrible. Lol Like · Reply · 29 · January 13 at 2:35pm 8 Replies Patricia Vaive Patricia Vaive I used to barter services in high school. I cut hair for help with math homework, or for hand hemming a skirt, Later as a young bride, I bartered machine sewing or babysitting for help ironing or vacuuming. Some people are just better at some things than others, and some people hate to do certain tasks. Like · Reply · 44 · January 13 at 7:40am 4 Replies Thomas E. Mitchell Thomas E. Mitchell Actually, what was it, about 30 years ago that bartering EXPLODED? There were several national exchanges and individuals and small businesses were going nuts with it. Enter the IRS. They started taxing barter transactions, requiring everyone to pay income tax on the market value of the goods or services being traded. So, while barter is a great idea, if you don't plan to pay taxes on it, and if you plan to do a lot of it, it's a "cross-your-fingers" proposition where you just hope you stay below the IRS' radar. AFAIA, they may primarily go after those using exchanges but, I do not believe the tax laws limit the tax liability to only those types of transactions. Like · Reply · 18 · January 13 at 8:42am 5 Replies Diane Teeter Diane Teeter Tax collector will find a way. Especially if you do it online. There is a Bartering tax 420. You have to fill out a form 1099 B and report income on Form 1040. Like · Reply · 3 · January 13 at 1:08pm Grantley Dickinson Grantley Dickinson Not true, you can tax it. In Australia is it a taxable transaction based on the value attached to that transaction. But Bartercard is an example of how it would become monetised Like · Reply · 1 · January 14 at 1:49am Page Gerrick Denny Page Gerrick Denny Umm...have you read any books about the Middle Ages? Rulers taxed the people all the time, by confiscating whatever the good was the person produced. And they largely lived in bartering economies. Like · Reply · 1 · January 13 at 10:20pm 1 Reply 6 of 217 View more comments Oscar del Rosario Write a comment...