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RE: Will Cryptocurrency Alter The Need To Tax?

in LeoFinance4 years ago

I think taxation will continue to be a thing like you said because of how inevitable it is to everyday Spending, I don't know if Crypto will of course tilt government to want to offer more then their civic responsibilities especially with tax payer's money or something of that that sort in most African countries. Due to the way the economies are redundant, the system isn't equitable enough. Nevertheless, old government in many ignorant and stagnant African states will eventually die. It might just take time.

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Nevertheless, old government in many ignorant and stagnant African states will eventually die. It might just take time.

In my opinion, all national governments are going to die off. The Nation-State as a system is quickly becoming obsolete.

That means we are going to see Networked-States emerging as the modes of governance. This will likely take the rest of this century to pan out. Yet it makes sense in terms of the evolution of the digital world.

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Since this might actually take time, the ultimate/long-term goal is to actually move, probably to where it'll become better and where the system will allow the dynamism of crypto to influence lives in massive proportion.

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It will take time, no doubt. That said, we already have Networked-State through the likes of Facebook. The difference is we need decentralized ones. We can only keep pushing things forward each day like we are.

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I have always believed that if the US Federal government would just initiate a Federal Sales Tax and drop everything else that they would make a lot more money.

They would increase to point it was a drag on the economy. Politicians simply cannot help themselves.

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That is depressing only because it is true. Politicians need to understand their mission is to serve the public not themselves.