3 ms·
The government does not have a contract with each person. The way to implement this currently would be to either: * Have a contract with each bank to give money
by er4hn 5y ago
The government does not have a contract with each person. The way to implement this currently would be to either:
* Have a contract with each bank to give money to them to give to each citizen. This hits problems with trust on the bank, speed of distribution, and how to deal with citizens who have multiple bank accounts.
* Issue some set of stimulus checks, tax credits, and require documentation of appropriate spending at tax time. This feels very much like the plot to a modern Kafka novel.
- shkkmo 5y agoYou haven't explained how a new digital currency makes this easier. Any retail banking setup provided by the government for a new digital currency could just as easily make use of dollars and would provide equal benefits. As far as I can, the only thing you can get with a new digital currency is the ability to decouple it's value from the dollar.