Cohousing-L Mailing List: `

[Gordon (weil]

Andre G. writes,
> 
> LETS sounds to me like a way of avoiding taxes.  Ordinarily, if I pay
> Bob to build a garage for my house, and Bob pays me to set up an
> accounting system for his construction business, then that's taxable
> income for us both.  If we're exchanging imaginary "credits" instead
> of "real money," I suppose it's a different question.  No doubt the
> government will find a way to get its cut eventually, however.
> 

It may be implemented for that reason, but another reason for LETS is that it 
promotes a self-sustaining economy, develops local skills, and prevents the loss
of money from the community.  Everyone works together because their credits 
don't count in the outside world.  It's a carrot-stick system for promoting 
community.  The St Croix Valley Greens are implementing a LETS system among 
their members.

- Gordon Weil