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Originally Posted by Wakygreek
Honestly? Congress wants to tax us for what really? I mean i dont think they use our money well right now as it is...they send more money overseas then they bother spending on people in the US that actually need the money. Congress should not be allowed to tax MMO's or games in general they can tax themselves and their big pay checks.
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They aren't trying to tax people; read the article.
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Originally Posted by article
Although an economic value can be put on this trade because in-game currencies do have an equivalent real world value, committee chairman Jim Saxton said its investigation was not being carried out with a view to slapping taxes on this trade.
"There is a concern that the IRS (Internal Revenue Service) might step forward with regulations that start taxing transactions that occur within virtual economies," said Mr Saxton. "This, I believe, would be a mistake."
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Originally Posted by article
The JEC statement said: "Clearly, virtual economies represent an area where technology has outpaced the law. The goal of the forthcoming JEC study is to help lawmakers understand the issues involved and head off any premature attempt to impose a tax on virtual economies."
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The only thing they are doing is research to prevent any premature taxation by the IRS. They are more interested in games like "Second Life" in which transactions are made with real money. If they do decide to tax such trades it will probabaly also apply to secondary market companies like IGE. IGE having to add taxes to their prices is bad for them and good for everyone else.
Oh yeah, next time read the article before you make premature assumptions based on the thread's title. This is not the end of Online gaming as we know it so don't go around screaming doom and gloom.
10-19-2006, 01:27 PM
#1 (permalink)
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