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As a result, USA is not Greece. USA isn't bailing out, USA doesn't have to beg money to Germany or court Putin's protection. Greece has a massive fraud problem,
by tajen 11y ago
As a result, USA is not Greece. USA isn't bailing out, USA doesn't have to beg money to Germany or court Putin's protection. Greece has a massive fraud problem, half of the houses aren't finished because of tax schemes, everyone pays everything cash, they have high taxes but their tax money gets laundered into subgroups of people without the projects being built or achieved.
If Greece went to a full-debit-card economy, they would be able to trace who doesn't pay their taxes (hint: everyone and their smugglers) and probably step into the developed world.
But yes, it would be bad for privacy, i.e. it gives the govt power to levy a mandatory tax, for example to increase the wage of the prime minister.