In these days of email, eftpos and tap’n go, cash will go the same way as a postage stamp and become a vintage relic. Welcome to Gulag, where the sign of the Beast is inscribed on your forehead in the form of your bank card number. No escape. Until now, governments have introduced income tax, goods and services taxes, business tax, etc to pay the bills.
All based on the premise that if you don’t get it at the source of exchange, tax evasion will breed black market economies. The basis of this argument rests on the non-accountability of cash but with financial transactions migrating to electronic debits, a far simpler and more equitable debits tax of 1% would not only eliminate all other taxes but encourage consumption which is good for the economy.
At present, when we earn money, we get taxed on it. Then when we spend what’s left, we get taxed on it. This soup of the soup approach is both archaic and self-effacing in its stupidity, a way of killing the goose that lays the golden egg.
The driver of an economy is consumption which should be rewarded and not penalised. The Dickensian tone of ‘how dare you ask for more’ needs to be replaced with ‘eat your fill’.
As a local burger joint displays ‘Come in and eat before we both starve’, Nature provides Bounty regardless of whether it’s consumed or not. We have the ability to be amazingly prosperous if we discontinue shooting ourselves in the foot.
Fear, greed and power are the shackles that bind our mindset in the collective sense. Surely a business is better off paying 1% on debits instead of 30% on corporate profits. The fringe benefits and slush-funding would soon disappear.
Not to mention the benefit to the poor and disadvantaged who for the first time would actually have some real disposable income, which would further fuel the economy.
The more we focus on lack and scarcity, the more we bring that reality into being and we only have ourselves to blame. We are capable of building a world where abundance is the order of the day, our unique ability to transform being the key.
To achieve this Utopia requires vision and benevolence, no wonder we are so far away from reaching it whilst our political representatives preserve the status quo.
Not that we should give up hope, however. The first step in getting out of prison is realising you’re in it. The more an alternative is promoted and the benefits are demonstrated, the more that people will insist on change.
Please share this post with your network if you, too, can see the light at the end of the tunnel.