[geeks] Ebay, etc to report your income to the IRS?

[hike]

On Mon, Sep 29, 2008 at 11:40 AM, Rick Hamell <hamellr at gmail.com> wrote:

> Geoffrey S. Mendelson wrote:
>
>> http://www.freedomworks.org/newsroom/press_template.php?press_id=2571
>>
>>  "Hidden deep in Senator Christopher Dodd's 630-page Senate housing
>>  legislation is a sweeping provision that affects the privacy and
>>  operation of nearly all of America's small businesses. The provision,
>>  which was added by the bill's managers without debate this week, would
>>  require the nation's payment systems to track, aggregate, and report
>>  information on nearly every electronic transaction to the federal
>>  government."
>>
>
> I'm REALLY tired of Congress issuing laws as riders that are totally
> unrelated to the actual bill being put forth.
>
> That being said, I'm of two opinions on this. First, people SHOULD report
> their eBay (and other sources) earnings, I certainly do. But I don't think
> eBay should have to do that. Although the way they are screwing people over
> lately it would serve them right.
>
> Maybe the IRS should figure out who the top 1000 sellers on eBay are and
> check their records?
>
> --
> Rick Hamell
> Tech Blog - http://www.1nova.com/blog
> Pacific Northwest Photo Blog - http://www.1nova.com/photoblog
> Linkedin Profile - http://www.linkedin.com/pub/6/946/27
>
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>



Don't you just hate that congress-people seem to always think that the
taxpayers (once called citizens) are ripping-off the Federal government.  If
we keep any part of our money, they claim we "are not paying our fair share"
or "stealing" from the government..

The Federal government appears to have lost the concept of innocent until
proven guilty

Most eBay sellers (typically individuals) sell stuff that has already had
the taxes paid.  I pay taxes on my income.  I buy something with my post-tax
money for $10.  I try it out and/or use but decide later that I want to see
it.  I sell it for $5.  Where's the earnings?  The Federal government calls
the $5 earnings but it is not and may (depending on the length of use) be an
actual loss.  The Federal government will not let me take the $5 loss off of
my taxes.

Most business eBay sellers pay taxes.  This is already a law requiring that
taxes be paid on profits and most business eBay sellers do so.  Related to
this, there is never proof offered that eBay sellers are not paying
appropriate taxes--it is an assumed fact.  A fact not in evidence.

As I recalled from my political science sources, the requirement that
businesses do the work of the government (without pay/contract) is
socialism.

The bill is a sham--unless you agree that your income belongs to the Federal
government.