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A suitor sent this linkto me yesterday and brought my attention to Page 24. I understand his perspective:
Searching "coin" though, I found my way to the same page!
My perspective is the fetching idea that lawful money is "living" while debt (death) is amortized. Look at my highlight in red:
Especially interesting though is that the 1954 Tax Code is the only such Code passed by Congress in the Statutes at Large? I wonder if that is true...
Hey David,
So I have been looking for why W-2 receiving people can deduct lawful money from gross income. The following looks pretty convincing. I have been looking at it like this, if we redeem, they discharge. There is nothing else they can do. Can you take a look at it? it is located at http://www.constitution.org/uslaw/sal/068A_itax.pdf page 24 this is the 1954 tax code. By the way it is the only one that is a statue at large also. everything else is just prima facia and can be rebutted if not found in here.
Let me know if you think I am on to something. I believe this is exactly why we can do what we do.
So I have been looking for why W-2 receiving people can deduct lawful money from gross income. The following looks pretty convincing. I have been looking at it like this, if we redeem, they discharge. There is nothing else they can do. Can you take a look at it? it is located at http://www.constitution.org/uslaw/sal/068A_itax.pdf page 24 this is the 1954 tax code. By the way it is the only one that is a statue at large also. everything else is just prima facia and can be rebutted if not found in here.
Let me know if you think I am on to something. I believe this is exactly why we can do what we do.
My perspective is the fetching idea that lawful money is "living" while debt (death) is amortized. Look at my highlight in red:
unamortized premium (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be included in gross income, and the amount of the deduction attributable to any unamortized discount (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be allowed as a deduction.
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