Suppose I rent a room to someone in return for their labor. How does the IRS collect on this? Supposedly you have to report the fair market value of the service, but how do you calculate that? And since you didn’t recieve any money how are you expected to pay the IRS in money? Do you take out a loan? Sell off an asset and have to pay taxes on that revenue as well?
Thanks.
Your questions sound kinda subversive. Maybe you should be thrown in jail for asking ?
This is one reason why free trade and statism are incompatible.
It seems to me like the IRS is in direct conflict with marginalism.
The IRS is in direct conflict with a lot of stuff, one of them being freedom and prosperity.
Simple. You have to rent the room to an IRS agent at no charge for 20% of the year.