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RE: Cryptocurrencies Are Blowing Central Banks Out Of The Water - with Jeff Berwick
One curiosity I have is, if everyone is their own bank, will people still pay their taxes? Or, do we pay taxes because we are forced too? Now, if people stop paying taxes, how will we fund things like public schools, roads, etc.
That is the big question isn't it. I think right now it'll be based as a honor system until they find a way to control it of course. Hopefully they don't assign citizens BTC addresses and track it that way. Knowing the government they'll say, we're just going to keep a copy of the private key so we can take our taxes due lol.....Nightmare.
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But What Will Be Done About...?
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"It Can't Happen Here!"
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@ truth-be -told
Taxation is extortion. All of those things could and should be privately funded and controlled.
So hopefully you are correct and people stop paying taxes, and we begin to realize that voluntary exchanges can tackle many of the problems government has monopolized.
And if everything as privately controlled, who regulates that? Would we end up with Private schools, where only the rich can afford? Do we end up with all roads being "toll roads"? Would we vote on which private company works on what?
I'm sure there's a lot I'm not considering, but I don't know how it can be both "Privatly funded and controlled" and at the same time not clash with other "Privatly funded and controlled" organizations. It still needs to be centralized somehow.
Who is the centralized authority regarding the Internet?
With privatization comes choices and competition, with central planning and control come monoplies.
A voluntary society wouldnt be one without challenges it would be one without the imagined legitimacy of a forceful governing body.
If you fear that people cannot govern themselves what makes you think they can effectively govern others? Or select someone else to govern them?
@ truth-be-told
Here is one example of the superiority of privately funded services for something as far fetched as crimen prevention and policing in the city of detroit.
This is classic. Great example of how it works. Attitudes, assumptions, preconceived notions, speech patterns all influence outcomes.
You're forgetting how we get internet. AT&T & Verizon? Not much competition there. I've even heard them talk about how they split up territory. Either way you'll risk something.
No I Haven't forgotten how we get the intermet.
Basically most arguments against decentralization and a stateless society are the fear that we would end up with something exactly like a state.
I don't know of anyone who thinks risk would leave the equation without the force of government's monopoly.
I'm just considering accountability. Private industries don't have to be accountable to anyone because the response has always been find a different company. My main concern is that, monopolies and who pays for what. I'm all for decentralization if it cuts down on what the government chooses to involve itself in unnecessarily. But where is the line where it goes too far?
The real problem is Federal Tax which goes to a myriad of things but very little towards state by state services when compared to the amount spent on just the interest alone on our current national debt which is at 19,956,444, 999,999 at this exact second and climbing. (U.S. Debt Clock.org). This is national debt alone and does not include a number of other insanely high debts that plague the population and will profit big banks. Between 2009 and 2013 the Federal Reserve which is a private bank earned over 350 Billion Dollars in interest based profits alone making it the most profitable private company in the world for that period as it still is with yearly profits towering over the collected income of Apple, Google, and Amazon combined. The funding from federal income tax that goes towards wars of aggression that do very little to keep Americans safe but instead do a great deal to increase profits for defense contractors, big oil, big business in general, and paying the ever climbing interest on a debt so unbelievably large that it can never be paid.... the percentage of your income that goes to the federal government every year would be better spent on roads and schools, public services, etc. However the part of your income that you pay in federal income tax will not go towards these things in the way that most believe. (State Taxes tend to cover a lot though) It will end up in the hands of a private entity representing other private entities that have nothing to do with you, your families future, or the future and health of the U.S. as a country. If I made you give 10 to 35 percent of your labor to me for free and I profited and you received absolutely no benefit or goods/services in return you would call that partial slavery. If you refused to work for me 10 to 35 percent of the time for free and I locked you in a box where sodomy was served shortly after lunch you would not only be a slave but then the victim of a morally unjustifiable tyrannical dehumanizing act. State by State taxation with a vote put to the public every quarter as to what requires the most attention in regards to education, roads, public services, etc. is rational and reasonable. Forced taxation at the barrel of the gun on behalf of a number of people you have never met and have nothing to do with anything the federal government provides you with in regards to services is not.. The current debt per U.S. taxpayer is $165,928.00 and climbing. You will never pay that and less than 30 percent of it would go towards the services you mentioned in your post. Please research this as I have meant this response in a helpful noncontroversial way. Hope this covers your question.
Glad we're having this conversation...getting my old brain to think about this more. ;-)
Yes, but what are you going to do ? Rip your US passport and migrate to another country ?
Just note to you about income tax.
I worked in Singapore , Income tax there is roughly around 7% annually and its not a third world country :)
Yes. I did something very similar to that as I'm a dual citizen. Granted tax is higher here but the loop holes are larger and easier to make use of if you know where to look. Though the government in the UK has miles of red tape centered around preventing local autonomy we have a fiercely committed community here that has fought and bit back when angry letters, officials, or threats of fines have reared their head. We have managed to win and stop discouragement of us having a say using nothing more than community based grass roots cooperation. This isn't at a huge township level, just our little road. I have also spent years structuring finance and my lifestyle to center around self sustainability from solar power, growing my own food, wild food foraging, arranging barter agreements with my local butcher, green grocer, and restaurants as it can't be taxed by law. Added to which a great deal of time is spent with people in my community committed to looking after themselves participating and structuring ourselves to where we keep our own community watch and checks. Though state education here is mandatory we all spend a great deal of time teaching the kids gardening, fishing, bush craft skills. And not to disclose to much detail in regards to finance but I have taken great pains to structure my income and tax so that I do pay to as little as possible all within legal requirements. All this can be done in the U.S. but the likely hood of an officer or representative of the government showing up armed to poke his nose in is higher. If you irritate that officer there is always a high likely hood of him turning your skull into a birdhouse. Not all law enforcement are bad guys.... but a lot of them can be di**'s. Here in traditional British fashion they just show up and bitch or write angry letters that if contested hotly enough for long enough you can wear them down on and still not break any laws. I'd happily move to another country from here and would actively entertain/plan a move along those lines but I care about the people I live around as we have all become each others extended family over the years. 7%?! That's a jealousy inspiring low amount! Wish it was that low here!
Wow, that is great you were able to create a local community that has become your extended family. It was like that in my grandfather's time. He lived in a small town in Philippines. Everyone was related to each other. They were too poor to pay taxes. Whatever they need they grew themselves and the forests were vast then. So whatever you can't grow you can hunt and gather in the forest.
I think the smaller the community the less need for government. And less government less taxes but people still get what they need. I think that is how Singapore and Hongkong , which I also worked, are able to keep taxes low. A small city state would have less overhead. Less red tape,less bureaucracy and leaders closer to the people in the street. Not away in Washington or London
Then you would need to pay for school like it would be a private school. If no one pay taxes the government couldn't pay for hospitals too so illness could be very expensive.
Is it worth it?
Hey truth-be-told.
It’s already been paid for and much more.We all have a secret trust account but we are not allowed to access it only they are. Your sweet caring government who want to look after you created a Cestui Que Vie Trust (CQV) with your birth certificate. Every time you use your sign of nature (signature) you give them permission to take money out of it. The truth will set you free my friend. Know your strawman. Peace and good luck to you all.
http://www.legislation.gov.uk/aep/Cha2/18-19/11
http://www.thepagg.com/cestui-que-vie-act.html
that legislation link doesnt work
Thanks for pointing this out. Link corrected.It should work now. Peace.
Well, one thing I will say...I agree with the early Protestants in that, the Papacy represents the Beast system in Revelations and Daniel. And in order for them to control the "no buy no sell", they need to control the monetary unit being used. This can easily happen if there's a cashless society. But I think we are a good few years away from that :-)
i think the hole community will be change, you will pay for your children with blockhain.
You wont. Home schooling. Family pays, not the state as it should be.
I wonder why people think if we have no Fed. Gov. that we won't have schools or roads? Governments don't build roads or build schools. Governments don't build anything! They just hire the people they want to do the work. Which is usually their friends and/or contributors. We can hire Pro's to build our own roads, schools and anything else we need. I am certain at a much more affordable price. We took care of these things before we had big Government and we can do it again!
It is a good question. The thing is, at least for now, as long as the money in your Bitcoin Wallet never reaches your bank account, it will never be traced. But who can tell what the future holds.. Maybe Bitcoin Wallets do become banks and we are charged taxed through our Wallets..
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