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I understand your point. However, privacy cannot shield one from tax and legal obligations. It is not just the proceeds from criminal activities, but also tax
by MikeDelta 5y ago
I understand your point. However, privacy cannot shield one from tax and legal obligations.
It is not just the proceeds from criminal activities, but also tax evasion (from the rich or companies) and terrorism financing.
- exo762 5y agoYou can use cryptocurrency which hides all of your transactions (like zcash) and pay your taxes as a law abiding citizen. There is no conflict here. Tax systems rely on citizens reporting anyway.
- n_ary 5y ago> You can use cryptocurrency which hides all of your transactions (like zcash) Nit: only if you use zcash shielded wallets(very rare & resource hungry) are your assets private. Most wallets use transparent addresses, which is kind of similar to normal ones. Given current landscape, only monero is defacto private.
- ip26 5y agoTax systems follow a “trust but verify” model.
- ushakov 5y ago> Tax systems rely on citizens reporting anyway ever heard of CRS (Common Reporting Standard)? https://en.wikipedia.org/wiki/Common_Reporting_Standard https://en.wikipedia.org/wiki/Common_Reporting_Standard
- MikeDelta 5y agoI really admire your faith in human kind. I am fairly certain that many citizens would be tempted to become creative in their transparency (or activities) if they knew they would never get caught. Such is human nature.
- ska 5y ago> Tax systems rely on citizens reporting anyway. It relies on reporting and the right to audit, so they may end up with all of the information anyway; it's more that you are making them ask for it rather than providing it proactively.
- crypto-cousin 5y agoAt least in Western countries our definition of "terrorism" usually serves to demonize BIPOC.
- swiley 5y agoNot just BIPOC, any group of people you don't like.
- CryptoPunk 5y agoIf a tax requires the entire citizenry surrendering all of their financial privacy, it should be abolished.
- iSloth 5y agoAnd shortly after all countries would collapse...
- decafninja 5y agoTo some, that is probably a desired feature, not a bug.
- imtringued 5y agoThe new rulers?
- svaha1728 5y agoFeudal lords
- deleted 5y ago[deleted]
- MikeDelta 5y agoWhat system would be fair and acceptable to you?
- deleted 5y ago[deleted]
- CryptoPunk 5y agoA land tax: doesn't violate private property or privacy rights, counter-acts wealth disparity, impossible to evade, and considered the perfect tax by economists due to doing zero harm to economic efficiency. https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax