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Yep. The government showing its hand creates information asymmetry; the citizen then knows which assets and income to declare, and which ones to keep off the bo
by mahmud 17y ago
Yep. The government showing its hand creates information asymmetry; the citizen then knows which assets and income to declare, and which ones to keep off the books.
And also, they're can use the list of "liars" as a sieve and focus their investigative efforts on those, instead of the docile, ball-playing masses.
- lutorm 17y agoI don't follow. You mean that right now employment for which you don't get a W-2 (like what, working without employment authorization?) might get declared anyway because you don't know if the IRS knows about it? What kind of work can you do legally without getting a W-2?
- sokoloff 17y agoLots of at or in home work (daycare, yard work, house cleaning, dog walking). And, for "our kind", contract programming. In theory, there's a threshold (fairly low, like $600 maybe?) over which you are supposed to get a 1099 as a contract worker, but if you look at that list of occupations in parens above, I'd wager workers not getting 1099s outnumber those getting 1099s 4 to 1 or higher.