President Elect Donald J. Trump has promised to eliminate the Income Tax and move government revenue on to Tariffs as Taft did.

The Federal Reserve Dollar is dying since it is being printed into oblivion (the definition of inflation). If Lummis was thinking correctly, the answer to several of these difficult problems at once is obvious.

When the Income Tax is abolished and Tariffs are the source of income, it should be mandated that those Tariffs be paid in Bitcoin.

This would have several immediate side effects.

1/ There would be a very large increase in demand for bitcoin globally

2/ The Federal Government would legitimately start to amass bitcoin

3/ No American Citizen would suffer theft to achieve this end

4/ The U.S. bitcoin ecosystem would be turbo kick started

On the final point, these “monies” coming in to the coffers would be spent inside America, creating multiple cascading opportunities for innovation and learning in bitcoin handling. The “Bitcoin Coffer” would be dispersing and disseminating bitcoin into the economy, triggering the de facto “Legal Tender” status of bitcoin, which I note with appropriate disdain, this bill of pure fail fails to address as part of the overall strategy.