Time: Wed Jun 18 08:13:09 1997 by primenet.com (8.8.5/8.8.5) with ESMTP id GAA02069; Wed, 18 Jun 1997 06:45:01 -0700 (MST) by usr06.primenet.com (8.8.5/8.8.5) with SMTP id GAA07796; Wed, 18 Jun 1997 06:44:55 -0700 (MST) Date: Wed, 18 Jun 1997 06:43:28 -0700 To: (Recipient list suppressed) From: Paul Andrew Mitchell [address in tool bar] Subject: SLS: ITHACA HOURS (fwd) References: <3.0.2.16.19970617145705.319ff068@pop.primenet.com> Yes, I caught this anomaly too. You are a hawk eye, for sure. I disagree that their HOURS are "taxable income when traded for professional goods or services." They obviously failed to understand the true definition of "income" (i.e. a profit or gain). See, in particular, Eisner v. Macomber, 252 U.S. 189. /s/ Paul Mitchell http://www.supremelaw.com At 05:29 PM 6/17/97 -0700, you wrote: >This is cool until you get down to this part: > >> Local currency is a lot of fun, and it's legal - HOURS are taxable >> income when traded for professional goods or services. Local currency >> is also lots of work and responsibility. > >Is this a declaration that although a trade of HOURS for services is not >a gain or profit, it will still be considered taxable income? > <snip> ======================================================================== Paul Andrew Mitchell : Counselor at Law, federal witness B.A., Political Science, UCLA; M.S., Public Administration, U.C. Irvine tel: (520) 320-1514: machine; fax: (520) 320-1256: 24-hour/day-night email: [address in tool bar] : using Eudora Pro 3.0.2 on 586 CPU website: http://www.supremelaw.com : visit the Supreme Law Library now ship to: c/o 2509 N. Campbell, #1776 : this is free speech, at its best Tucson, Arizona state : state zone, not the federal zone Postal Zone 85719/tdc : USPS delays first class w/o this As agents of the Most High, we came here to establish justice. We shall not leave, until our mission is accomplished and justice reigns eternal. ======================================================================== [This text formatted on-screen in Courier 11, non-proportional spacing.]
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