Lawmakers Trying to Head Off Massive Taxation

Posted by ryuzaki0 on Thursday October 19, 2006 @05:36AM from the that's-massive-games-not-lots-of-taxes dept.

An anonymous reader writes to mention a Reuters article about a lawmaker's attempt to stop the Government's interest in taxing Massively Multiplayer Game content. R-New Jersey Jim Saxton is cautioning against exploring the taxable status of in-game items. From the article: "'The goal of the forthcoming Joint Economic Committee study is to help lawmakers understand the issues involved and head off any premature attempt to impose a tax on virtual economies,' he said. Under current law, Saxton said if a transaction takes place solely within a virtual world there is no 'taxable event.' Dan Miller, chief economist for the Joint Economic Committee, said earlier this week that the committee's study would start with a blank slate and be completed by the end of the year."

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No value? by BadAnalogyGuy · 2006-10-19 05:40 · Score: 0, Flamebait

If I die and leave a taxable estate, you can bet that the government wants their hands deep in my pockets to extract their pound of flesh, even if there is no actual money changing hands.

Just ask any farmer with land holdings.