Your Tax Matters Partner: Occupy Wall Street

Your Tax Matters Partner: Occupy Wall Street 1

I have two eating intellectual interests. Title 26 of America Code and the annals of the United States from 1830 to 1870. My first bit of poking around about Occupy Wall Street was to see what specific tax proposals they were bringing up. I thought for certain that individuals would be talking about “carried interest”, the poster provision of many conversations of the unfairness of the tax system, but I actually didn’t find that or much about income tax in any way.

So removing my tax eyeglasses and gaining my 1840 glasses, I see people taking on the aspect of the 1840 reform agenda where we’ve made the least progress. In politics, morals, religion, and trade. Those things will be altered a hundred years hence. And so we will see it, a hundred years hence. In the same way Christian people must, a hundred years hence. For we’ll all go free suffrage, 100 years hence. Although you will get other consumable combiners of the full total perfectionist reform deal you’d be hard pressed to find a person who performed it out more completely than the Reverend Adin Ballou.

Ballou’s era of reformers was actually in a position to accomplish the abolition of slavery, while not without renouncing non-violence (or non-resistance as they called it). It might be several generations more, depending how you rely, before women could vote. Provided, nevertheless, that capital shall never receive income exceeding an annual amount to add up to six percent per annum simple interest for the whole time of its investment in the money of the Community.

Rule 97 Enough is never enough. Rule 242 More is good ….. The community founded by Adin Ballou was one of the intentional communities started in the time between 1830 and 1850. In a bit of hyperbole, Emerson had written that the constitution was got by every man of a new community in his pocket.

The three mostly pointed out are Brook Farm, Fruitlands, and the Northampton Association. Taking from the wealthy and offering to the poor was not the road chosen, while some advocated it. Fraternal Communion NUMBER 1 of the Practical Christian Republic began with 28 people residing in one house. Despite their sharing high aspirations they got on one another’s nerves.

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It was planned that as these were able they would set up more residences. It was thought by some that the fair move to make would be to have individuals who didn’t set up any money to be the first ones to go into specific dwellings. In the end Jesus got said “The first shall be last”. After 17 years, the city was doing this well that Adin thought he could hand off the leadership and concentrate on the Practical Christian Republic, which would be a network of Hopedales, ultimately covering the world. Grandiose as the scheme may appear, he was grounded than most such visionaries better. Hopedale was real and it appeared to work.

As a matter of fact, it probably really did work until George Draper persuaded Adin Ballou it did not. I’m not sure how the convincing happened exactly, but I love to think of it as a meeting between the two men – no brandy, and cigars, this being Hopedale. February 5th 1855 On, the financial record of the grouped community was provided.

145.15. The city didn’t however have a poor net well worth. 41,300 in joint stock. This was the money that had been contributed by users. Thus, the city was in a strong position from an equilibrium sheet viewpoint. At our presumed meeting, though, George Draper says to Adin.

Ah Reverend Ballou, but have you contemplated depreciation? Yes, there should be journal entries decreasing the holding value of tangible property to reflect wear and tear. What would your deficit be then? William Draper, George’s son, in defending what amounted to his dad’s hostile takeover of the grouped community made much of the depreciation concern. He saw that as a reflection of the community’s poor accounting. He related the story of an instrument. The initial cost was never depreciated and even worse each time there was a repair at the expense of the repair was capitalized by increasing the book value of the used tool.

If you, like I, reminisce about the famous frauds through the ages you will recall that was what these were doing at WorldCom. If cash flow was, off they might reduce the increase and repairs set assets to reunite on target. It doesn’t hold a candle to the complex machinations at Enron, but it got the job done.