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To: American72
>"When I do this I am not making a profit - I am selling things at a loss (getting much less than the original retail price) so I don't consider it "income" and therefore should not have to be taxes on it."

The point is you have already paid taxes on it multiple times. The cookie stealing children, I mean the gubbamint wants to tax it as many times as possible untill the system totally breaks.

18 posted on 02/22/2007 6:47:11 AM PST by rawcatslyentist (This most beautiful system could only proceed from the dominion of an intelligent and powerful Being)
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To: rawcatslyentist
The point is you have already paid taxes on it multiple times. The cookie stealing children, I mean the gubbamint wants to tax it as many times as possible untill the system totally breaks.

That is the part I do not understand...I buy something with AFTER TAX income, get tired of it, and sell it for half what I paid. That sounds like a LOSS, to me, because I ate the depreciation.

If I were a "Power Seller", and bought a shipping container of rubber poodle poop from Taiwan, and sold it for a 200%markup, that is different..That is just simply a "store".

23 posted on 02/22/2007 7:00:54 AM PST by Gorzaloon (Global Warming: A New Kind Of Scientology for the Rest Of Us.)
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