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We would (almost) all of us be better off if we had a financial transaction tax, and the IRS focused on THAT.
by just_steve_h 5y ago
We would (almost) all of us be better off if we had a financial transaction tax, and the IRS focused on THAT.
- votepaunchy 5y agoHow would the tax be enforced on cash, or is the elimination of paper money a second-order effect?
- adolph 5y agoInflation is the tax or negative interest rate on cash.
- ocbyc 5y agoWhy spend all this effort on direct taxation, when they can print the tax. Plus, inflation acts as a proportional tax. The more dollars you have the more the tax effects you.
- ne0flex 5y agoThere is no doubt in my mind that the elimination of paper money is in our future. There are numerous articles about central banks developing their own digital currencies. Once that happens, say goodbye to any type of financial privacy or autonomy. I'm willing to bet that during times of economic slowdown, similar to China [1], the US gov't will put expiry dates on the dollars in your savings account in order to stimulate the economy, and people will defend that decision. [1]:https://bfsi.economictimes.indiatimes.com/news/policy/digital-currency-yuan-comes-with-an-expiry-date-spend-or-it-will-vanish/82059471 https://bfsi.economictimes.indiatimes.com/news/policy/digita...
- goatsecxkirk 5y agoThat's ridiculous. Why should I be taxed on every transaction? I get taxed when I make money and then everytime I purchase something/move money?
- qutreM 5y agoHe is probably talking about instead of income tax...