4 ms·
> tax-evasion The meme that banning cash is a useful way to fight tax evasion is hilarious propaganda. Unreported cash transactions are tiny compared to the ta
by pdkl95 10y ago
> tax-evasion
The meme that banning cash is a useful way to fight tax evasion is hilarious propaganda. Unreported cash transactions are tiny compared to the tax avoidance and evasion done by businesses and the rich. Banning cash doesn't make big business pay a real tax rate, nor does it prevent profits from being hidden in overseas accounts.
Blaming low tax revenue on cash is a convenient distraction. When everyone is focused on their fear that the average citizen might get away paying less taxes, nobody notices the people cooking the (non-cash) books and/o buying legislation.