From: Jeffrey Epstein <[email protected]> To: "Nikolic, Boris" Subject: Re: Date: Wed, 09 Dec 2009 05:44:45 +0000 ffm only as a quasi currency.. barter is the biggest , Ebay makes no sense it need no computing power only , listings.--- if you want a boy and i want a girl„ we should simply exhange one for the other, however one of us is going to have vane left over.. ( obviously debatable, which one ). however it is rare to find a perfect barter partner, what we should do is have a computer say , boris you deliver the girl, jeffrey the boy, sam a car, melanie a watch, and make the switch .At the essence money is only to account for the difference of value in what we have to trade. when should we speak? oris < > wrote: I was thinking of FFM for a while. I love that system. Taxes are the problem, although IRS has already placed some system in place. In addition, if becomes a bigger issue governments would place new taxes if system becomes bigger. Nonetheless, in my mind taxes are the smaller problem. I) Also, aren't FFM awards taxable? As far as a direct tax on the award user, the most recent IRS ruling states (with some equivocation) that free tickets are taxable IF they are earned in the course of business travel AND they are used for leisure travel. This rule has proved too difficult to apply, so enforcement has been practically non-existent. For the future, though, we should never underestimate the government's appetite for tax revenues. More importantly, the recently enacted 1997 Taxpayer Relief Act of 1997 attempts to tax FFP transactions covertly. This new excise tax took effect on October 1, 1997, and will have a significant effect on airlines and their marketing partners, and on the frequent travelers who participate in frequent flyer programs. For a number of reasons, this change to the tax code went largely unnoticed (and uncontested) by legislators and the general public. It has been dubbed the "stealth tax," a moniker which