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Comment Re:Kind of innevitable and entirely reasonable (Score 2) 297

The government expects to get a percentage of every transfer of money from one entity (or person) to another. The person receiving the money must count it as income. This is how income tax works. Just because a person decides not to report doesn't mean the tax isn't owed. And if the amount of money is high enough the government will figure out that tax is owed and come after the person to get it.

In the case of bitcoins (or any other non-local currency) the transaction must be converted to the local currency to figure out the value of the transaction and the amount of taxes to be paid.

Comment Re:So what's the penalty? (Score 1) 811

So many posts that really do not understand sales tax.

Sales tax is a tax to the end consumer (consumption tax). If sales tax was not paid to the retailer, the end consumer is responsible for paying it.

Amazon does not owe this money if it did not collect it.

Right now the laws are unclear as to when companies should collect sales tax, how much, and for which taxing authority.

Comment Re:Facebook is a horrible media business (Score 1) 295

"The more democratic you get, the less interesting you are to advertisers."

Unless those advertisers are small local businesses that cannot afford to advertise on a national scale.

I believe this is the market facebook is going to go after. They have a huge user base where the website knows where everyone lives. If they can break into the market of local advertising it will be huge.

This is the same market Google was going after by trying to buy Groupon.

Comment Re:This is why we can't have nice things, children (Score 2, Interesting) 219

I use my real name on facebook. That makes me an idiot? Thanks for the classification.

I tend to believe I'm more informed than the average person. Maybe I'm mistaken. If you believe that social networking sites sharing this type of information is the greatest privacy issue at the moment then you are mistaken.

To provide an example, I recently remortgaged my house. I received no less than 2 dozen mail offers to my home address (the address remortgaged). Most of them were to either offer insurance protection in case I was disabled and couldn't pay my mortgage or to allow me, for a fee, to pay my mortgage more often thus saving money in interest. A service my bank offers for free.

These companies put information on the mailings that could only be found in the mortgage documents, including the principal amount. How did they get this information? All of it is readily available public information available on the internet. Any piece of property in the state I live in has this information available online. This includes deed information such as amount paid and any liens including mortgages and tax liens. These are full images of the documents, including the signature. For many cities and towns tax assessment information is also available: property value, floor plans, property acreage and address.

There are many other examples of information online that compromise privacy. To worry about people putting information they themselves decide to put out there is the least of our worries.

Comment Re:Any Fair Tax Supporters? (Score 1) 374

"There is nearly a 400 Billion dollar tax preparation industry." Really? Where is this number from? The GAO estimated in 2005 that total compliance cost was $107 billion (using the lowest available estimates). That number includes corporations' internal costs for their tax departments.

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