Taxing The Virtual World
The terms of service that Blizzard lays out for Wold of Warcraft subscribers – more or less “What happens in Azeroth stays in Azeroth” make it a model of closed flow. Players can buy and sell things at an auction house paying with in-game gold and accumulate vast fortunes and rare items, but there is no mechanism for any of it to be translated into real money. You are not supposed to sell your in-game gold for real money or sell your whole account with its Level 80 warrior equipped with epic armor and weapons and a flying mount.
Democratic Presidential Candidate Drops Out Without Releasing Tax Plan
The Bernie Sanders campaign sent me something pretty detailed, but there is still no word on what he is thinking for rates. Hillary Clinton has floated a couple of proposals – more than two holding periods for capital assets and a tax credit to encourage profit sharing plans – that make it clear that a vote for Clinton will not be a vote for tax simplification. I haven’t noted anything yet from O’Malley and Webb dropped with nary a word on tax, although he probably convinced the other candidates that if they didn’t pick him for VP, they should strongly consider him for heading up their Secret Service detail.
Follow Me
Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.