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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

644.0. "Tax Stamps for drugs" by NETRIX::michaud (Jeff Michaud, PATHWORKS for Windows NT) Mon Dec 20 1993 20:23

	I thought this was interesting.  The State of MA is now selling
	tax stamps for controlled substances.  The lowest cost stamp is
	$3 for some small amount of grass.  If you are arrested for dealing
	they can now slap a "tax evasion" charge against you too.

	Supposedly the names of those buying the tax stamps remain
	"strictly confidential".
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644.1i support total legalisation of all drugsZENDIA::FERGUSONRed XTue Dec 21 1993 12:4210
re <<< Note 644.0 by NETRIX::michaud "Jeff Michaud, PATHWORKS for Windows NT" >>>
                           -< Tax Stamps for drugs >-

>	Supposedly the names of those buying the tax stamps remain
>	"strictly confidential".

sure they do!

maybe this is a pre-step to legalisation of grass.  just think of the taxes
the gov't could reap if all drugs were made legal!
644.2STUDIO::IDETime is generous.Tue Dec 21 1993 14:118
    How do you get them?  They probably haven't printed any yet . . .
    
    I think a sheet of these stamps would be a great collectors item; a
    conversation starter at the very least.  I'd like to get some, but
    don't want my house raided because of it.  There's no such thing as
    confidential in today's electronic society.
    
    Jamie
644.3It's a setupMILKWY::ROBINSONThe CaptainTue Dec 21 1993 19:393
    Does the word "Sting" sound familiar to anybody?
    
    Wendell
644.4yeah,a "sting"CSC32::K_BOUCHARDWed Dec 22 1993 20:384
    If this were true,*everyone* would have heard about it. I agree with
    the last reply,the DEA is probably doing a "sting" and nothing more.
    
    Ken
644.5How do you think they convict folks for tax fraudZENDIA::FLEMMINGWed Dec 22 1993 20:586
    Sorry folks, its not a sting. If you sell drugs in MA, you need a tax
    stamp. If you don't have one, you can be busted for tax evasion. If you
    do have one, you will probably be watched and could be busted for
    selling drugs. Just the sort of deal those folks set up to keep us from
    profiting from either drug dealing or tax evasion.
    
644.6WIDGET::KLEINThu Dec 23 1993 01:0711
According to the article in the paper, it said that thus far, a total of
zero stamps have actually been sold.  So if it is a sting, it isn't
working very well.

And anyway, when was the last time you had
to give your name when you bought stamps at a Post Office.  (never).  What
makes you think it is any different for these tax stamps?

I wonder how many of these dumb stamps they've actually printed...

-steve-
644.7Your tax $$$ at work...CARROL::YOUNGwhere is this place in space???Thu Dec 23 1993 12:411
    Or how many people they have in an office waiting to sell them???
644.8Used to be Federal Stamps issuedMILKWY::ED_ECKPlease Support Global WarmingThu Dec 23 1993 19:2310
    
    Up until at least the early 1970's, it was legal under federal law
    (state laws were somewhat different, of course) to sell marajuana 
    as long as a $100 per ounce transfer tax was paid. There was a Federal
    tax stamp issued to certify that the tax had been paid. 
    
    I believe it says on the front of the (Federal? State?) tax form 
    that all income, even from illegal undertakings, must be declared.
    
    (Remember who busted Al Capone and why. Hint--it wasn't Elliot Ness.)