Your thoughts on the underground economy....

[Amanda]

Has anyone else read the opinion piece by/about economist Sudhir Venkatesh in the latest issue of Forbes?

It talks about how the recession is affecting "underground workers" like prostitutes, drug dealers, and purveyors of stolen goods.

I enjoyed his insights into gang life in "Freakonomics" and from the article it says there will be a sequel.

Any thoughts?



For me... I really feel for people living on the fringe of society, even while I might despise what they do, I can't but help see Americans that really want to work and make a difference, if only in their own lives.

 

[strollingbones]

the underground economy consists of a lot more than that...many people "barter" ever chance they get....exchanging goods for services or other goods....doctors do it...lawyers do it...anyone who can circumvent taxes by bartering does it..not just druggies and hos

 

[sealybobo]

Has anyone else read the opinion piece by/about economist Sudhir Venkatesh in the latest issue of Forbes?

It talks about how the recession is affecting "underground workers" like prostitutes, drug dealers, and purveyors of stolen goods.

I enjoyed his insights into gang life in "Freakonomics" and from the article it says there will be a sequel.

Any thoughts?



For me... I really feel for people living on the fringe of society, even while I might despise what they do, I can't but help see Americans that really want to work and make a difference, if only in their own lives.

Sometimes I am amazed at how much money broke people have for cocaine, pot, eccstacy, cigarettes, booze.

Remember Too Short's song "there's money in the ghetto"? There is. A lot!

 

[Amanda]

the underground economy consists of a lot more than that...many people "barter" ever chance they get....exchanging goods for services or other goods....doctors do it...lawyers do it...anyone who can circumvent taxes by bartering does it..not just druggies and hos

That's a really good point! Thx B.

 

[Amanda]

Has anyone else read the opinion piece by/about economist Sudhir Venkatesh in the latest issue of Forbes?

It talks about how the recession is affecting "underground workers" like prostitutes, drug dealers, and purveyors of stolen goods.

I enjoyed his insights into gang life in "Freakonomics" and from the article it says there will be a sequel.

Any thoughts?



For me... I really feel for people living on the fringe of society, even while I might despise what they do, I can't but help see Americans that really want to work and make a difference, if only in their own lives.

Sometimes I am amazed at how much money broke people have for cocaine, pot, eccstacy, cigarettes, booze.

Remember Too Short's song "there's money in the ghetto"? There is. A lot!

But I'm sure as a lib you're aware that they are in despair. They are trying to make their pain go away. Do you see that? It's not waste to them if they feel better if only for a little while.

 

[RodISHI]

the underground economy consists of a lot more than that...many people "barter" ever chance they get....exchanging goods for services or other goods....doctors do it...lawyers do it...anyone who can circumvent taxes by bartering does it..not just druggies and hos

I would not say it is just to circumvent taxes when someone trades or barters. More like when there is no money one trades their services/goods with another who has something they need or can use.

I've bartered my artwork and other work many times over the years. I have also included the majority of those trades in my end of the year income statements.

Although I did not include a trade for the full bred dogs I did some years back. I traded a little old lady her some backhoe work for a couple of Pyre pups. The pups did not exactly have a set dollar value.

Neighbors, family and friends trade helping each other all the time. Not sure how the government could set a tax on people helping one another. I am sure they would if they could though.

 

[Amanda]

the underground economy consists of a lot more than that...many people "barter" ever chance they get....exchanging goods for services or other goods....doctors do it...lawyers do it...anyone who can circumvent taxes by bartering does it..not just druggies and hos

I would not say it is just to circumvent taxes when someone trades or barters. More like when there is no money one trades their services/goods with another who has something they need or can use.

I've bartered my artwork and other work many times over the years. I have also included the majority of those trades in my end of the year income statements.

Although I did not include a trade for the full bred dogs I did some years back. I traded a little old lady her some backhoe work for a couple of Pyre pups. The pups did not exactly have a set dollar value.

Neighbors, family and friends trade helping each other all the time. Not sure how the government could set a tax on people helping one another. I am sure they would if they could though.

I agree with this. Some certainly would.

 

[Peejay]

It does have an impact. The dark side of the economy is huge. Dealing in cash is huge. Barter and illict trades are huge. Some estimates say that this part of the economy accounts for as much as a third of the entire economy. I would guess that drugs account for a large share.

An example: A buddy of mine runs a pawn shop. He does the normal pawn thing but he buys and sells probably a third of the mechandise straight cash, no reciepts, no taxes. He buys nearly ALL gold that way. His gold buyer pays cash. It's a ton of money and there is no way to trace that gold once it's gone.

 

[neurosport]

underground economy is proportional to the inefficiency of the state-run economy

instead of one good economy we have two busted ones

i just wonder if raising the taxes enough will drive the government itself underground

 

[Old Rocks]

Has anyone else read the opinion piece by/about economist Sudhir Venkatesh in the latest issue of Forbes?

It talks about how the recession is affecting "underground workers" like prostitutes, drug dealers, and purveyors of stolen goods.

I enjoyed his insights into gang life in "Freakonomics" and from the article it says there will be a sequel.

Any thoughts?



For me... I really feel for people living on the fringe of society, even while I might despise what they do, I can't but help see Americans that really want to work and make a difference, if only in their own lives.

Sometimes I am amazed at how much money broke people have for cocaine, pot, eccstacy, cigarettes, booze.

Remember Too Short's song "there's money in the ghetto"? There is. A lot!

But I'm sure as a lib you're aware that they are in despair. They are trying to make their pain go away. Do you see that? It's not waste to them if they feel better if only for a little while.

They are in a self made despair. I have known many people that came from the rough side of the tracks and made something of themselves in spite of their origins. And an equal number that had all the advantages, and ended up 'ghettoizing' themselves.

While many are held back by lack of knowledge, all too many of these same people resist any effort to aid them in aquiring the requisite knowledge to make something of themselves.

 

[editec]

Nobody really knows how big the underground economy really is but the IRS seems to think that it's about 200 billion dollars.

While I don't doubt a lot of it is crime, I suspect more of it is just people working off the radar, doing things like baby sitting, yard work, odd jobs and construction work.

I know people who do nothing but that kind of work because they cannot find a real job that pays them enough to make it worth their while to go to work where they have to pay taxes.

And I suspect most of you know people like this, too.

 

[Amanda]

Sometimes I am amazed at how much money broke people have for cocaine, pot, eccstacy, cigarettes, booze.

Remember Too Short's song "there's money in the ghetto"? There is. A lot!

But I'm sure as a lib you're aware that they are in despair. They are trying to make their pain go away. Do you see that? It's not waste to them if they feel better if only for a little while.

They are in a self made despair. I have known many people that came from the rough side of the tracks and made something of themselves in spite of their origins. And an equal number that had all the advantages, and ended up 'ghettoizing' themselves.

While many are held back by lack of knowledge, all too many of these same people resist any effort to aid them in aquiring the requisite knowledge to make something of themselves.

You know they'll kick you out of the lib club if you keep talking this sort of nonsense.

 

[Said1]

Has anyone else read the opinion piece by/about economist Sudhir Venkatesh in the latest issue of Forbes?

It talks about how the recession is affecting "underground workers" like prostitutes, drug dealers, and purveyors of stolen goods.

I enjoyed his insights into gang life in "Freakonomics" and from the article it says there will be a sequel.

Any thoughts?



For me... I really feel for people living on the fringe of society, even while I might despise what they do, I can't but help see Americans that really want to work and make a difference, if only in their own lives.

Sometimes I am amazed at how much money broke people have for cocaine, pot, eccstacy, cigarettes, booze.

Remember Too Short's song "there's money in the ghetto"? There is. A lot!

It's the junkie work ethic and dedication to getting the prize that should amaze. Hustling is a 24/7 job.

Like the other day. My friend, who lives in a rooming house, only has a little fridge in his room. He bought some meat and asked his crack head friend to store it in their freezer. Naturally, they obliged. A few days later, my friend goes to get a package of chicken only to find it all gone. Did they eat it? No. They sold it.

 

[Peejay]

Well, they roped off all my problems and pointed their finger at drug addiciton.

Cause they know if you're the one doing the pointing, nobody's probably looking at you.

But this war on drugs is funded by the tobacco and alcohol comissons.

It's not what drugs you're strung out on they care about so much as.....whos.

You see, people still love drugs. They're bigger than......hell they're bigger than Rush Limbaugh.