Paypal Changes for 2022

@secretguy @jond 

Ok Mr. Do Right, give me a friggin’ break…paying taxes is one thing, this nonsense is a blatant overreach by the govt. I get destroyed in taxes, I’d like to know what snow globe you two are living in. 

@taxguy

I heard about this tax change on YouTube and immediately thought of a couple points:

• Gov is wanting to increase revenue - this is about expanding control
• This will affect mostly low & middle class (tax the ’side-hustle’)
• Gov is prepping for (cashless) digital currency future

My question to you... If audio gear (or anything else we sell) generates one of these 1099’s, does depreciation need to be factored in? That could significantly reduce/eliminate the value of the original cost - resulting in the entire transaction being taxable gain. Example: In 2016, I buy a new amp for $3000. Depreciation schedule for electronics is short (think maybe only a couple years), so in 2022, that item is likely fully depreciated. I sell it in 2022 for $4000 (due to it’s popularity and inflation). Can the gain be offset by the original cost in this case?

@nonoise Americans are always on the lookout for government tyranny, because patriots and government are usually at odds with each other. Governments endeavour to control, while patriots endeavour toward freedom. Example: The 2nd US constitutional amendment provides the right to be free of governmental infringement to maintaining a weaponized civilian militia specifically for the purpose of defending against tyrannical government. US founding fathers had the foresight to prepare for this by making it the 2nd amendment (just after free speach) - that’s how important it is.

This is a nothingburger. How many people routinely make money on their audio sales?

@nonoise  it is not unpatriotic to try to avoid paying what you can. I suggest everyone who thinks otherwise to pay more than you should. They will allow you to do that if you feel so strongly. We have roughly half the nation that pays nothing into income taxes while at the same time chanting for the rich to pay "their fair share". It has gotten so absurd that people who pay no income tax are receiving money from other taxpayers for their decision to have a child. People chanting fair share that don't realize the top 1% account for 70% of the monies paid into federal treasury. For some reason a political segment believes there is a limited amount of money and if that rich arsehole weren't so selfish I'd be rich too. It doesn't work that way. 

Our federal government is bloated and it's tax laws are what allows it to be bloated. If you don't believe me look at maps by county + wealth over the last 6 decades. That wealth was distributed across the nation. Today the richest counties are congregating around DC. I don't have a problem paying taxes; I have a problem paying for mass bureaucracy and other people's decisions in life. If you choose to have a kid, great! I don't want to pay for that choice.

Wonder what drug dealers are paying.