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The Economist Explains: Why some economists want to get rid of cash

Lafayette said:
Statist, me arse.

Puting the name-calling aside, the scheme has its best virtues in uncovering illegal uses of money.

Therefore, it is likely that that is the Real Reason you don't like it ...
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Insinuation of illegal intent aside, you were not proposing uncovering illegal uses of money as much as reducing the security of the individual against misuse and blunder by government and possibly private hackers. The associated increase in power of the state to coerce citizens is immense and you propose no counter veiling measures. I understand how easily one can get stuck in a rut with some new idea that sound cool. But understand please. That is a danger you should try to avoid.
 
joG said:
The associated increase in power of the state to coerce citizens is immense and you propose no counter veiling measures. I understand how easily one can get stuck in a rut with some new idea that sound cool. But understand please.
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That depends upon where, and since you give no identification of your country of reference this exchange stops here ...
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joG said:
Your response to the example shows you have either no or very little hands on knowledge or experience. That is no fault unless you preach to those who have been there and have the t-shirt. For them your story is only a nuisence and propaganda trying to ensnare those with less experience and can fall for your tale. .
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More sarcasm, and little else.

Get to the facts of the matter. The offshore money is both illegal in the EU and the EU.

So, unless you live on the moon you cannot ignore it as if it was of little or no consequence.

And, anyone living in a country, like the US, with extreme Income Disparity, then Americans holding money abroad in a tax-shelter are not performing thier civic duty. In fact, they are unlawful and should be brought before justice.
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Lafayette said:
Here: Why some economists want to get rid of cash

Excerpt:

Of course, nothing would prevent cash being replaced by gold-coins or even bullion for purposes of evasion. But, what I like most is the aspect of reducing illegal accounts held abroad at a far distance from national tax-authorities. This "service" is convenient to both legal entities (you, me, and companies) as well as illegal (the Mafia of all sorts as well as ISIS).

Were that money repatriated and taxed, it could likely be used to provide postsecondary education to the needy, thus helping them avoid the necessity of UI ...
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getting rid of cash is something libcommies would love since it would give govt the instant ability to control everyone's accounts and lives. Freedom and cash are one.
 
Lafayette said:
And, anyone living in a country, like the US, with extreme Income Disparity, then Americans holding money abroad in a tax-shelter are not performing thier civic duty. In fact, they are unlawful and should be brought before justice.
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our corporation hold trillions abroad to keep it from being wasted by libcommie govt. Resisting the encoachment of libcommie govt is the basis of western civilization and as such the basis of civilization on earth.

"We still find the greedy hand of government thrusting itself into every corner and crevice of industry, and grasping at the spoil of the multitude. Invention is continually exercised to furnish new pretenses for revenue and taxation. It watches prosperity as its prey and permits none to escape without a tribute."

-- Thomas Paine
 
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