Editing Income (section)

=="Nonincome"==
=== Debt ===
Borrowing or repaying money is not income under any definition, for either the borrower or the lender.<ref name="Mc"/> Interest and [[debt forgiveness|forgiveness of debt]] are income.

=== Psychic income ===
"Non-monetary joy," such as watching a sunset or having sex, simply is not income.<ref name="Mc"/> Similarly, nonmonetary suffering, such as heartbreak or [[Work (human activity)|labor]], are not negative income. This may seem trivial, but the non-inclusion of psychic income has important effects on economics and tax policy.<ref name="Mc"/> It encourages people to find happiness in nonmonetary, nontaxable ways and means that reported income may overstate or understate the well-being of a given individual.<ref name="Mc"/>