Re: Specific Questions

["Perry E. Metzger" <perry@piermont.com>]

Karl Denninger writes:
> > Simon Higgs writes:
> > > Would someone like to explain why applications for administration of a
> > > public trust are $20,000 (est.) when there is $7 million sitting on
> > > deposit to cover internet infrastructure and organizational costs?
> > 
> > In other words, money that can be used for non-profit purposes should
> > be spent to subsidize for-profit companies expenses in entering into a
> > for-profit business?
> 
> Excuse me, but the for-profit companies don't HAVE that expense.
> 
> The IAHC has them -- or it wouldn't need to recover them through a TAX,
> would it?
[...]
> Is this the activity of a public trustee or not?

Many if not most similar organizations charge fees to recover costs of
their operation. Everything from drivers licenses to airport terminal
space to museum memberships come with fees to recover expenses. Tell
me -- is the Museum of Modern Art "taxing" its members? You will
doubtless argue that no one need join the museum -- but no one need
become a registry, either.

> If its not, then please let us know so that we can properly label
> the IAHC as a for-profit entity which is NOT acting as a public
> trustee.

"For profit" would imply that rather than spending the money for
expenses, it was being distributed to the members of the committee for
their personal use. Do you have evidence that this is our intent?


Perry
Speaking for myself, and not for the IAHC