Bank your time - Page 3

In the face of economic collapse, Bay Area Community Exchange turns labor into cash-free currency

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According to Grande, member of the cooperative are "loving that they have a place to go and share their skills with someone else, and a place to go to for help, be it material support or moral and social support. A big issue in our community is isolation, especially if you can't navigate the language, the system, or you're a recent immigrant and you're family is back in El Salvador, in Nicargaua." As Luna understood when she was ill, this isolation and economic disempowerment are intrinsically connected. The economy might recover, but people don't seem likely to lose interest in the timebank's alternative currency — and the possibilities it brings with it — anytime soon.

Comments

Timebanks have been around for a long time, but I don't think the past 20 years is indicative of the next 20 years for timebanks. Watch this tool explode in use.

Posted by David on May. 02, 2012 @ 9:32 am

It should be noted (particularly in a publication that constantly espouses higher taxes) that the exhange of hours/services is deemed by the IRS and Franchise Tax Board to be subject to income tax.

Posted by Guest666 on May. 02, 2012 @ 9:54 am

I mow your lawn while you shine my shoes.

Posted by Guest on May. 03, 2012 @ 2:35 pm

The IRS has told TimebanksUSA hours are not taxable

Posted by Guest on Jun. 08, 2012 @ 3:33 pm

but the SFBG consistently holds that only activities it disapproves of should be taxed.

Posted by Chromefields on May. 03, 2012 @ 11:54 am

but the SFBG consistently holds that only activities it disapproves of should be taxed.

Posted by Chromefields on May. 03, 2012 @ 11:55 am

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