Lets be honest, we all hate paying taxes but we also know that we have to pay tax to make society function.
One of the big dangers to governments is that we the people get control of our own money and of course Bitcoin and other crypto currencies give us that control, with that control and encryption comes truly invisible money!
Despite what you might think, Bitcoin is actually traceable, its VERY traceable, but there are cryptos with very deep encryption that are not, and you can be pretty confident that its one of these emerging totally unpenetrable coins that will be the coin that is adopted as the worlds currency at some point in the future. Get into that coin early and your wealth will dwarf that of the recent Bitcoin multi millionaires.
So I was pondering the thought that this is great for us but how will society function without us all paying tax?
My view is that it will function in a much better and fairer way, it's the financial institutions that are the root cause of the problems, they control the money that the world uses so they control the world not the governments.
When you remove the banks and finanical institutions what you are left with is a system where you have money and goods/suppliers with no middle men, we then dont need complicated taxes it all becomes very transparent. I have my money and nobody knows how much I have or where it came from, the freedom to pay anyone for anything without any authority being able to see that transaction or even know that it took place means that they will have to eventually accept that situation and change the way society is taxed.
The solution as I see it is pretty simple, they will have to charge tax only on goods that we buy and scrap all tax on earnings. They could do this now of course but if they did it would expose how much tax we are really paying on every penny we earn and spend which is closer to 80% than the 25% they'd have you believe it is.
This change is not going to happen overnight of course, my belief is that we are going to have to experience a financial collapse in the fiat system the likes of which the world has never seen before before this seismic shift occurs. It's been 10 years since the last crash, in the UK one of the banks involved was RBS who have just reported their first profits since the crash. Do I believe them? Hell No, its all smoke and mirrors to these guys, but even with smoke and mirrors its taken 10 years for them to get a positive number on the bottom line. That should tell you something about the state of the fiat system and those that control and manipulate it.
Today those of us who are involved with Bitcoin and assets like Gold are derided and laughed at by many, they won't be laughing when the next crash happens as it will totally wipe out the wealth of the middle classes on a global scale.