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> Think of a world in which you cannot collect taxes That's the problem. That's exactly what is already happening. The rich already don't pay tax, and neithe

> Think of a world in which you cannot collect taxes That's the problem. That's exactly what is already happening. The rich already don't pay tax, and neither do the corporations they control. The only thing that is being changed is that the oversight of the masses is now being removed, because banks can no longer be trusted to look after the interests of their clients over the interests of the state. I suspect the only viable taxes in future will be consumption taxes, property taxes, and estate taxes. If ya wanna eat, ya pay tax. If ya wanna buy something, ya pay tax. If ya wanna live somewhere, ya pay tax. If ya die, your assets are divided, the state collects its portion, and then everyone goes on their merry way again. It's no surprise that these are resisted, because they are the only taxes that are effective against wealthy people.

lucaspiller 9y ago
The loophole that allows the wealthy to avoid paying taxes usually has nothing to do with hiding money though. In the EU there is a lot of talk right now about companies like Apple avoiding taxes, if you buy an iPhone in France pretty much nothing of that sale goes to the French government, but it’s not that they are saying “no we won’t give you money”, it’s that the law allows their company to be setup in a way to avoid paying these taxes in France. If anything Bitcoin and other crypto currencies are going to allow you to hide and transfer wealth even more. Yes Bitcoin isn’t truly anonymous, but it’s so much different to a traditional bank where you need to prove your identity and they actively report large transactions to the authorities. And as for the taxes you mentioned, it’s pretty easy to avoid those too. If I live in Russia and I buy an iPhone in Europe I’ll have to pay VAT (consumption tax) of around 20%, but when I go back home, which is outside the EU, (home being where I am a tax resident, not necessarily where I live on a day to day basis) I can claim that 20% back. The same applies for visitors to the US.

lucaspiller 9y ago

The loophole that allows the wealthy to avoid paying taxes usually has nothing to do with hiding money though. In the EU there is a lot of talk right now about companies like Apple avoiding taxes, if you buy an iPhone in France pretty much nothing of that sale goes to the French government, but it’s not that they are saying “no we won’t give you money”, it’s that the law allows their company to be setup in a way to avoid paying these taxes in France. If anything Bitcoin and other crypto currencies are going to allow you to hide and transfer wealth even more. Yes Bitcoin isn’t truly anonymous, but it’s so much different to a traditional bank where you need to prove your identity and they actively report large transactions to the authorities. And as for the taxes you mentioned, it’s pretty easy to avoid those too. If I live in Russia and I buy an iPhone in Europe I’ll have to pay VAT (consumption tax) of around 20%, but when I go back home, which is outside the EU, (home being where I am a tax resident, not necessarily where I live on a day to day basis) I can claim that 20% back. The same applies for visitors to the US.