What would a tax-free economy look like? In the world of today, it's easy for the government to get their tax from citizens than it is for citizens to be paid by the government. I don't know how the math work but it's always meant to leave the taxpayer with less money and the tax collectors with more money than it needs.
However, things have been changing with the emergence of technology. Through technology, we've been able to bypass some taxation laws but that's not the end. Cryptocurrency being one of those things is becoming easier and easier for people to avoid tax which I think is good but the downside is that crypto still hasn't been able to truly escape taxation, especially in developed countries where everything is tracked.
The crypto tax is becoming a problem for those who seek protection from tax. This has made people move from one location to another in search of a place with a more friendly tax policy.
But will leaving a jurisdiction be the way out of avoiding tax in the future?
In the coming decades or century. I think we are close to a time of no taxation and the more closer we are the harder it will be to avoid taxation I think that time is near because it's more clear that crypto isn't going anywhere and the only problem is going to be about how to avoid taxation from their government.
The more loophole we create the more brutal the tax policy will become especially with crypto.
Share your thoughts in the comment. Do you think a tax-free world is possible in the future?
