Underground Economy
Thread Starter
|
New User
Joined: Jan 2008
Posts: 0
Likes: 24
Underground Economy
So to the American's on this site:
What is your concept of the extent of the "underground economy" in the US these days ?
I've known for years what happens in Canada on this subject but I was wondering about the US.
What is your concept of the extent of the "underground economy" in the US these days ?
I've known for years what happens in Canada on this subject but I was wondering about the US.
Hotshot
Joined: Oct 2002
Posts: 18,488
Likes: 22
From: The Big, Oregon
I'm sure cash business and bartering must be bigger up there with the higher taxes. To see how it's doing down here, though, all you have to look at is Craigslist.org, and see the turnover rate of stuff.
Very little has any tax paid on it whatsoever. Mostly only cars and houses, stuff that must be blessed by the government.
Very little has any tax paid on it whatsoever. Mostly only cars and houses, stuff that must be blessed by the government.
Post Fiend
Joined: Jan 2006
Posts: 20,589
Likes: 2
From: Charlotte, NC
What do you consider the 'Underground' economy?
I always took it to mean criminal enterprises like drugs and the fencing of stolen goods. You're also considering auctions, garage sales, etc.?
I always took it to mean criminal enterprises like drugs and the fencing of stolen goods. You're also considering auctions, garage sales, etc.?
Post Fiend
Joined: Jan 2006
Posts: 20,589
Likes: 2
From: Charlotte, NC
OK....Legal AND illegal, but untaxed.....
I'd say 'huge-mongous'.......
Based on what I see on any given Saturday around here. There's....oh....I don't know......a couple of hundred neighborhoods in Charlotte.......and each one probably has several different garage sales (or yard sales---depending on your region) going on every week.
Legal and illegal? Offhand? Several hundred billion dollars/year I guess. Maybe 1/4 to 1/3 of that illicit.
I'd say 'huge-mongous'.......
Based on what I see on any given Saturday around here. There's....oh....I don't know......a couple of hundred neighborhoods in Charlotte.......and each one probably has several different garage sales (or yard sales---depending on your region) going on every week.
Legal and illegal? Offhand? Several hundred billion dollars/year I guess. Maybe 1/4 to 1/3 of that illicit.
Posting Guru
Joined: May 2003
Posts: 1,437
Likes: 0
From: Oak Harbor WA
Trending Topics
Posting Guru
Joined: Oct 2004
Posts: 1,424
Likes: 0
either way black market or legit sales from private sales, more people go this route for a tax free income. ebay your only required to pay taxes if yoiu make over a certain amount in a certain time. they do keep track and might not say anything at first but they will get you eventually. if things keep going the way they have been i see the days of the bootleggers comming back. it might not be alcohol this time but something.
FTE Stories
Ford Trucks for Ford Truck Enthusiasts
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Verdad Gallardo
Top 10 Most Expensive Ford Trucks Ever Sold on Bring a Trailer
Joe Kucinski
2027 Ford Super Duty Buyer's Guide (Every Model, Engine, & Package)
Brett Foote
Top 10 Ford Truck Tragedies
Joe Kucinski
AEV FXL Super Duty - the Super Duty Raptor Ford Doesn't Make
Brett Foote
Lobo Vs Lobo: Proof the F-150 Lobo Should Be Even Lower!
Michael S. Palmer
Ford's 2001 Explorer Sportsman Concept Looks For a New Home
Verdad Gallardo
10 Best Ford Truck Engines We Miss the Most!
Joe Kucinski
2026 Shelby F-150 Off-Road: Better Than a Raptor R?
Brett Foote
Government Teat-sucker
Joined: Oct 2003
Posts: 9,748
Likes: 1
From: Virginia Beach
A lot of trading goes on for smaller stuff, like an old lawn mower for a tv stand, for instance. I see things like guns, cars, furniture, etc for sale or trade. I could see your example becoming more prevalent in the near future if gas continues to rise. I can also see people getting together to share a ride to the grocery store and running errands to save trips.
Fleet Mechanic
Joined: Feb 2004
Posts: 1,448
Likes: 2
From: CA Central Coast
Don't know if that still holds what with the current situation, but one of the arguments in favor of a "low" flat tax is that supposedly many of such folks flying under the radar could be convinced to 'fess up and pay up.
I, of course have no reason to consider this...
Post Fiend
Joined: Nov 2001
Posts: 7,698
Likes: 4
From: Neenah, Wisconsin
Very good question Dennis. Answer is it's huge, has been for years from what I can see, and getting bigger. I recall 20 years ago hearing that if all the "under the table" income were taxed even at the lowest rate, the [then] deficit would be wiped out.
Don't know if that still holds what with the current situation, but one of the arguments in favor of a "low" flat tax is that supposedly many of such folks flying under the radar could be convinced to 'fess up and pay up.
I, of course have no reason to consider this...
Don't know if that still holds what with the current situation, but one of the arguments in favor of a "low" flat tax is that supposedly many of such folks flying under the radar could be convinced to 'fess up and pay up.
I, of course have no reason to consider this...
Post Fiend
Joined: Jan 2006
Posts: 20,589
Likes: 2
From: Charlotte, NC
I'll go no further, though....because of the fear another FairTax thread will start up.....
