A2 - Wednesday, September 29, 1982 - North Shore News

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I KNOW a couple who, between the two of them,
earned about $65,000 last year. That’s not a bad
income yet I notice that even they are in-

creasingly turning to barter as a way to get things
done without using cash.

They had a Ford LTD
which they wanted to get rid
of, having bought a Japanese
car. Instead of selling it, they
traded it to a young cCar-
penter in exchange for
renovations to their house,
including a sundeck.

This same clever couple
keep their boat running in
tip-top condition simply by
letting a mechanic use it

from time to time in ex-
change for keeping the
engine repaired.

Nobody knows the exact
value of the exchanges of
goods or services for other
goods or services that goes
on, but according to Roger
Smith, dean of the faculty of
business administration at
the University of Alberta,
the total underground

| Strictly personal

a by Bob Hunter
A nation of traders

economy in Canada adds up
to 15 to 20 per cent of the
GNP.

That's a staggering total of

‘$45 to $60 billion a year.

That estimate includes
much more than just the
amount of bartering that

goes on. It covers such items

as outright tax evasion and

.iNegal transactions such as

drugs, prostitution
gambling.

Believe it or not, barter is
technically a sin.

Services that are bartered
instead of bought or sold are
taxable if they involve the
exchange of “like skills,” sq

and

ut would set example

Council did agree it was a
good idea to get public input
into the budget process
through a public meeting.

FROM PAGE A1

for council and senior staff
would set an example of
restraint. He also spoke
against Hall’s motion, saying
he had once served on sucha
committee and found it a
waste of time.

Alderman Frank Marcino
said the City already has a
committee to look at the
budget — and it’s called City soccer players, Alderman
council and is accountable Frank Marcino announced
to the people, at Monday's North Van-

THE WATERFRONT Park
at Lonsdale Quay got used
for the first time ever by

Raymond suggested calling a
meeting in April, after
preliminary work has started
on the budget.

Waterfront park gets used

couver City council meeting.

The historic event took
place on the weekend, after
grass was laid at the park at
the foot of Mahon Avenue,
he said.

Name Optical’s War ow

0-

W OM ONEN-
eweat Continues coe

697 Wést Broadway at Heather

pours Monmlay to Friday 240 -6 00, Saturlay D 305%

One loaation nly! 145 worth He Trip!

far as Ottawa is concerned.
But I know of one case
where a retired editor is
editing a bok for a
psychologist who in turn has
hypnotised the editor so that
he ,has been exploring his
past lifetimes while in a
trance.
Try finding a way to tax
that.
The argument against
barter is that if the un-
derground economy was
included in the nation’s tax
base, taxpayers would have
to fork out less to finance
government spending and
_our taxes would be reduced
accordingly.

Be that as it may, the
“black’’ economy —
meaning all the under-the-
table wheeling and dealing
that the citizenry practises in
the ancient pursuit of tax
evasion— is booming while
the official economy is on
the rocks.

I myself would never

7 DAYS A WEEK
5PM-8PM

&

We've turned
“‘hard times”

into “good times”’

$399

ALL YOU CAN EAT!

dream of stooping to cheat
the government, any more
so than the beloved
government would stoop to
cheat me. Unthinkable!

Yet I can’t help noticing
that a heck of a lot of other
people don't see anything
wrong at all with hor-
setrading by hand-shake and
none of that funny paper
stuff from the mint being
involved at all.

In the good old U.S.A.,
the underground economy
has partially legitimized
itself with the formation of
barter clubs, which allow
people to swap services and
property without dealing
with the Internal Revenue
Service.

Roses

922-4171

Spaghetti with Meat Sauce

WES IAN FLORIST LTD
Weekly
Specials:

10 for 4°?

Boston Fern

1821 Marine Dr. West Van.

sorry — no delivery on these items

The IRS continues to
frown upon barter as a tax
dodge. In Canada, there is a
dawning realization that all
the hidden activity means
key economic policies may
be based on false premises.

It’s funny. I remember, as
a kid, it was okay to trade

comics, marbles, baseball
cards, toys, even bubble
gum.

It wasn't until later that |
was weaned from the habit
of trading and convinced
that paying with money was
the route to go. Maybe it was
just that I finally had some
money.

Now? Well, gee, it’s full
circle, isn't it? Psst. Wanna
trade?

on @are

922-3968

Any might of the week you can
enyoy
smothered in our zesty Mtaban
meat sauce Its a great value

oodles of Noodles

Park Royal South
right beside Eaton's

formerly Ricky's

922-8215