Most people are talking about the shadow economy where you pay billy to wash your car every week for $40, and then neither of you reports it to the IRS so billy doesnt have to pay taxes on it.
Its a government wet dream to be able to tax all of this, which is why they are desperate for you to venmo/whatever your money everywhere.
Yes, which is why i support a sales-tax-only model. Shit between friends doesnt need the governments nose in it, which is why it shouldnt have a vested interest in monitoring everything.
Honest question, what's illegal, unreported income to you?
Most people are talking about the shadow economy where you pay billy to wash your car every week for $40, and then neither of you reports it to the IRS so billy doesnt have to pay taxes on it.
Its a government wet dream to be able to tax all of this, which is why they are desperate for you to venmo/whatever your money everywhere.
What if a friend bought tickets to a concert/movie and you're just reimbursing them? All this shit is insane.
Yes, which is why i support a sales-tax-only model. Shit between friends doesnt need the governments nose in it, which is why it shouldnt have a vested interest in monitoring everything.