[41519] in Cypherpunks
Crypto & Taxes [WAS Re: Cybersecurity]
daemon@ATHENA.MIT.EDU (Michael Froomkin)
Sun Oct 15 13:59:24 1995
Date: Sun, 15 Oct 1995 13:56:16 -0400 (EDT)
From: Michael Froomkin <froomkin@law.miami.edu>
To: Duncan Frissell <frissell@panix.com>
Cc: Rick Busdiecker <rfb@lehman.com>, hallam@w3.org, cypherpunks@toad.com
In-Reply-To: <Pine.SUN.3.91.950925060508.23639B-100000@panix.com>
On Sun, 15 Oct 1995, Duncan Frissell wrote:
> On Sun, 24 Sep 1995, Rick Busdiecker wrote:
> > I'm guessing that you're talking about the fact that fully applied
> > crypto (e. g. fully anonymous digital cash) makes it essentially
> > impossible to base a tax system on income.
> Yep.
[....]
Hold on. This is more "factoid" than "fact": recall that income is PAID
by people as well as EARNED by people. Most payers have easily
detectible physical presence and assets that can easily be attached by
regulators. It will be a cold day before, e.g., my employer agrees not
to report my earnings. And the same is true for most employers in most
industries.
And if it ever stops being true, we'll just get VAT, and VAT inspectors.
So the line about death and taxes remains as true as ever, crypto or no.
A. Michael Froomkin | +1 (305) 284-4285; +1 (305) 284-6506 (fax)
U. Miami School of Law | froomkin@law.miami.edu
P.O. Box 248087 | http://www.law.miami.edu/~froomkin
Coral Gables, FL 33124 USA | New address, but it's still just as hot here.
