brightmindsco on Nostr: No one likes any tax. So, ignoring the argument that all taxes should be abolished, I ...
No one likes any tax. So, ignoring the argument that all taxes should be abolished, I think it makes more sense to say that property tax ( for real estate) will be one of the only remaining taxes in the coming age.
Income tax is only possible if transactions can be monitored. In a Bitcoin world, income tax is difficult to enforce. Back in the day, property tax and maybe sales tax were the only enforceable taxes because the infrastructure was visible and coercible by the state.
My recent thoughts have been: when money is separated from the state, it will have to revert to old forms of taxation. Property taxes is potentially the oldest form, and the one likely to persist.
Thankfully… property values will fall to their utility value overtime as well.
Income tax is only possible if transactions can be monitored. In a Bitcoin world, income tax is difficult to enforce. Back in the day, property tax and maybe sales tax were the only enforceable taxes because the infrastructure was visible and coercible by the state.
My recent thoughts have been: when money is separated from the state, it will have to revert to old forms of taxation. Property taxes is potentially the oldest form, and the one likely to persist.
Thankfully… property values will fall to their utility value overtime as well.