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True story of a free trader

Posted by freedomforall 9 years, 1 month ago to Philosophy
22 comments | Share | Flag

"The trader and the warrior have been fundamental antagonists throughout history. Trade does not flourish on battlefields, factories do not produce under bombardments, profits do not grow on rubble. Capitalism is a society of traders—for which it has been denounced by every would-be gunman who regards trade as “selfish” and conquest as “noble.”
- Capitalism, The Unknown Ideal

"The symbol of all relationships among [rational] men, the moral symbol of respect for human beings, is the trader. We, who live by values, not by loot, are traders, both in matter and in spirit. ...
The mystic parasites who have, throughout the ages, reviled the traders and held them in contempt, while honoring the beggars and the looters, have known the secret motive of their sneers: a trader is the entity they dread—a man of justice. ...
We, the men of the mind, we who are traders not masters or slaves, do not deal in blank checks or grant them. We do not live or work with any form of the non-objective."
- Atlas Shrugged


All Comments

  • Posted by $ Olduglycarl 9 years, 1 month ago in reply to this comment.
    Herman Cain had it right, every item is taxed many times over, each component and the whole as well then upon its original sale and every sale after that; never mind it's repair too!
    Yes...it sucks.
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  • Posted by johnpe1 9 years, 1 month ago in reply to this comment.
    it's viewed as equal utility on the part of both sides --
    yet the bureaucrats want their "sales tax" again and
    again, each time something is traded. . we bought a
    couple of used cars last year and in 2014 and paid
    thousands in sales tax, like they were new. . sux. . like
    double jeopardy, if you ask me! -- j
    .
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  • Posted by Grendol 9 years, 1 month ago
    I like this story. It is a good reminder that creation of value and commerce is diverse, versatile, profitable for all involved. Value is more than the good, but knowing the market, being available (especially when & where others aren't), and several other things that are either tangible or not. This is inspiring.
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  • Posted by $ Olduglycarl 9 years, 1 month ago in reply to this comment.
    Funny they would consider a gain on either party because a trade represents two things considered to be of equal value...is it not?
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  • Posted by johnpe1 9 years, 1 month ago in reply to this comment.
    we should have a gulch trader page or something,
    if we could figure out how. . I give you a boat and
    you give me a car? -- j
    .
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  • Posted by johnpe1 9 years, 1 month ago in reply to this comment.
    it's a right-handed one, just like the right-handed
    monkey wrench which is available for trade! -- j
    .
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  • Posted by 9 years, 1 month ago in reply to this comment.
    Still have the letter from the IRS after the audit.
    They found no discrepancies or reason to change the return. They have not tried again. (They have little to gain.)
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  • Posted by johnpe1 9 years, 1 month ago
    FFA, I have a blue paper clip for trade ....... -- j
    .
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  • Posted by jabuttrick 9 years, 1 month ago in reply to this comment.
    Correct. I don't know anything about Canadian tax law, but in the U.S. these trades are subject to income or short term capital gains treatment, I think. Better not to think about it. This guy is cool.
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  • Posted by Herb7734 9 years, 1 month ago
    Perseverance, fortitude, intelligence. A team that won't be beaten, can't be beaten. This is the way a person comes out on top no matter what obstacles are in that person's way.
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  • Posted by 9 years, 1 month ago in reply to this comment.
    Sad observation that is also a hopeful one. Its also a case of producers choosing to produce less to keep their "sacred honor" of principles. It is very difficult to survive and prosper in that way.
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  • Posted by jimjamesjames 9 years, 1 month ago in reply to this comment.
    I had a brother-in-law sometime ago who said, regarding taxes, "If you are not being audited, you are not trying."
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  • Posted by DrZarkov99 9 years, 1 month ago
    Barter is one way to dodge taxes, and some are very good at it. Of course the IRS has rules for how to claim the results of barter as income, but there's not much chance of them coming after you, as they have trouble organizing enough resources to go after the big tax dodgers. I suppose that if the barter was big enough, and not well hidden, there might be serious consequences.

    It's kind of a sad observation that there's a very substantial ad hoc black market developing in the U.S., primarily from people's distrust of government. I suspect there are some very creative entrepreneurs operating in the shadows, other than the drug sellers and sex traffickers.
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  • Posted by Mamaemma 9 years, 1 month ago in reply to this comment.
    I hear and understand. but this free trader was very public about it all. The record is out there. My point was that the government demands its percentage, even if no money changes hands.
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  • Posted by $ MichaelAarethun 9 years, 1 month ago in reply to this comment.
    Or a waitresses tips. The answer to your dilemma is don't tell the accountant. The cost of materials will be who ever made the purchase unless you make a trade with the supplier. Always good to keep zero records. After all you were just helping out a friend.
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  • Posted by Mamaemma 9 years, 1 month ago in reply to this comment.
    Dont know if its true, but I have been told by my accountant that if I trade dentistry for, say, carpentry, I have to pay tax on the value of the service received.
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  • Posted by 9 years, 1 month ago in reply to this comment.
    Good observation. Difficult to value the trades for taxation but suppose they could insist on valuation of the vehicles. Such things are pretty low value though. probably not much exposure until he sells the real property. Still, the gov has done nothing to earn a cut of his production.
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  • Posted by Mamaemma 9 years, 1 month ago
    I wonder how long it will take the government to come demand taxes on his profits.
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