Avatar
thom
af2384b5ffaad8d79b2cb33e993c9ea9fc73350d9d865c386fe036cd1ed62881
Learning every day. Currently reading πŸ“š Bitcoin is Venice

Word nostr:note1g9f7gd6hc955ujdq3cjhyyj4xu42rurr0kyjar9kym4vvgprqyxqknrmv8

πŸ‘€πŸ‘€ nostr:note1gucsjvq9daghhng24ttkp0vpaj77r92kkudku5p6xkxh4zts5p9s2vyrfa

I had a thought the other day...

Governments get involved in all the financial transactions in order to tax them. Your company makes money, it gets taxed. You get paid a salary from the remainder, it gets taxed again. You spend it on something, it gets taxed again. That company takes it in and it gets taxed again. Over and over, tax after tax after tax. And all of this requires complete loss of privacy, they have to know all of your transactions so they can tax them accordingly, and the accounting and compliance costs spawn a huge financial industry which is actually.... entirely unnecessary.

Instead, all this loss of privacy, all this compliance cost, all the tedious filling out of tax forms where you aren't sure if you are doing it right and they hope you do it wrong so they can also collect fines and interest... the whole thing could go away.

And I'm not talking about anarchy. I'm talking about a funded government that doesn't need to collect taxes.

Just use inflation: The central bank prints 3% more money each year and gives it to the government.

Now before you all yell at me about how inflation is a horrible thing... this is a compromise. It is far better than the invasive tax systems we have today, and if the amount of money government gets is fixed by a constitution, and the fiat system (there would still be one) didn't expand via fractional reserve lending but only by this predictable monetary inflation, it strongly prevents government overgrowth, and also moderates boom-bust interest rate cycles, and still stimulates economic activity because the currency continues to lose value.

This is just the start of a crazy thought. I haven't thought it through deeply. But I do really like getting rid of the invasive tax compliance back-monkey.

Two thoughts: they’re doing both right now, so eliminating taxation and everything that comes with it would be an incredibly huge win. It won’t happen because so many of the jobs you correctly identified as not only unnecessary but counterproductive would go away.

Sad reality nostr:note16dq48psalmsv3c0mkxytzvxweeq2kv3dm47fm6sp4dhncqwcyejshh9q85

Hero nostr:note1gsrfm46u8pct555wje2het0x2lmzhq7lg6ryatuup9e68ex7v9aqryx8ah

I’m using this for clipboard history on macos https://www.hammerspoon.org/Spoons/ClipboardTool.html

Can probably be adapted for your use case. I don’t know lua but AI might be able to help.

Top of the morning to you, thanks for sharing

Inquiring nostr:note15tcvqxk4cgsqle05c5u6zgrvdj35t8s6ualgs9h9s5nev532xttq0qn7zy

great presentation nostr:note1k02578eu2qrcaz65vzkwh6unnzquqwadm3yn0s3nwy25mwx208wsg5424e

Orange coin dead ☠️ nostr:note1ks4h6qha0svv4gnw2q0tjfl2we7507nm3t2ktkzgrc675etfk3gqf52n5z

None, stack coin instead. Joking aside, I’m happy with my garmin fenix 6, I’d be looking at the epix if it needed replacement. Also depends on your use case of course… I use it for running, cycling, hiking.

TIL: an MC is a Master of Ceremonies 🀌