Re: Has the Supreme Court defined what income is?


"Richard Macdonald" <rmacdonald@xxxxxxxxxxx> wrote in message
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"Robert Miller" <rober999@xxxxxxxxxxxxxx> wrote in message
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"Richard Macdonald" <rmacdonald@xxxxxxxxxxx> wrote in message
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"Paul Maffia" <pmaffia@xxxxxxxxxxxxxx> wrote in message
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"Robert Miller" <rober999@xxxxxxxxxxxxxx> wrote in message
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If my labor is my property, and I exchange it for someone else's
property
"money" there is no "gain".

Your labor cost you nothing so you have no cost to offset or reduce the
gain. Your labor is not taxed, you retard, you income is.

It is not your labor that is taxed, it is the results of the sale
transaction.
I just finished laboring all morning in my yard and will not owe a
penny's
tax on that labor, ergo labor is not taxed, only any gain recognized
from
that labor that is taxed.

So your labor has no value?

My labor has great VALUE, but ZERO COST BASIS
as I paid nothing to obtain my labor.

I exchange my labor at par.

So, you give it away free then.

My property (labor) for someone else's property (money).
An even swap. There is no profit or gain.

You show an error in gain calculation comprehension.
FMV received - Basis given = Gain recognoized

If labor is income let the IRS define income in the Revenue Code as
including "Wages for Labor". Why is that so difficult?

The receipt of payment, in money, goods, securities, or service,
in compensation for labor is Gross Income per 26 USC 61.

Your labor is not taxed, the payment for your labor is.
Which law is that? I'm told it's in Title 26, but nobody seems to be able
to
find it. Even Sheldon Cohen former IRS Commissioner and author in the
Tax Code couldn't cite it. You would think he was familiar with what he
wrote.


.

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