this post was submitted on 24 Sep 2023
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Fuck scalpers, but I refuse to look at the $600 tax rule as anything other than a way for the government to squeeze money from and spy more on the common people.
Edit: to clarify I'm not rooting for the scalpers, I just don't want this governmental overreach to be put in a positive light just because its also affecting people we rightfully hate.
For those that don't know. The $600 tax rule is a requirement that Zelle, Venmo, etc must report transactions over $600 to the government so they can be taxed. Get a $600 graduation gift from grandma? Taxed. Get $1000 from your roommates to pay rent? You now have to document and show that so its not taxed. Sell a bike (that you ALREADY paid sales tax on using money you ALREADY paid income tax on) for $800, would you look at that its going on the tax form.
people would downvote u with no counter-argument to present. Lemmy is full of single digit iq NPCs
I think most of those people don't understand what the $600 rule is and instead thought I was saying scalpers shouldn't be taxed on their ill gotten profits.
Personally I think it fair enough that government tracks larger undocumented transactions, but maybe the 600 is a bit low a threshold not to affect common people too much.
I see your point, but I am from Northern Europe, and “governmental overreach” has a very different meaning to me than this. Especially the tracking side seems absolutely understandable for larger sums, but I am in favor of a heavy, regulating government, so I believe there are ways to make that threshold and rules as to who and why has to actually get taxed for the transaction, a fair enough and just construct among others very much needed.
multinationals should be banned from making subsidiaries in tax heavens (for exemple, Ireland) The Irs knows this but lobbying money prohibits them from achieving anything substiantial
so many people are uninformed and overly biaised