4 ms·
The best? Amazon takes a 30% cut and then the government (here in the US) takes another 28% for income tax, 12.4% for SSN, and 2.9% for Medicare. You get less
by bluedevil2k 11y ago
The best? Amazon takes a 30% cut and then the government (here in the US) takes another 28% for income tax, 12.4% for SSN, and 2.9% for Medicare. You get less than half your cash into clean money. Plus, there's a huge paper trail of buyers and the million dollar book would likely set off flags on every sale.
- yc1010 11y agoSee my 2nd comment below, this is definitely happening in electronics section where Amazon fees are smaller. Losing ~20% is not too bad when clean money from a reputable source arrives in your bank account, if you are reselling lets say hard drives or phones.
- tdees40 11y agoPeople buy lottery tickets as a way to launder money. This really isn't so bad by comparison.
- mcv 11y agoTo go from money you can't use to money you can use, that's not a bad deal, actually. But selling a million dollar book is probably too conspicuous. It's better to do this with something that's actually worth that much.