Baba Sucks

In response to my post "Breaking News: Congressman buys Girl Bits!" Rep. Jim Saxton (R-NJ) has issued a statment via Reuters.

Virtual economy tax ‘would be a mistake’ - US Rep

By Adam Reuters

SECOND LIFE, Oct 18 (Reuters) - The head of a U.S. congressional committee said it “would be a mistake” if the Internal Revenue Service introduced regulations to tax virtual economies such as Second Life and World of Warcraft.

Rep. Jim Saxton (R-NJ), chairman of the Joint Economic Committee, confirmed an earlier Reuters report that the committee was studying the public policy and tax issues related to virtual economies.

“There is a concern that the IRS might step forward with regulations that start taxing transactions that occur within virtual economies. This, I believe, would be a mistake,” Saxton said in a statement released on Tuesday.

^{Read the rest at Reuters}