Forum Post: Have you got an idea? Set Fire to the Paper Money-- Future World can Trade with a Credit and Debit System
Posted 12 years ago on Nov. 8, 2011, 3:28 p.m. EST by USCitizenVoter
(720)
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This post is food for thought and I think that there are hundreds of ways that our government could be saving us money. So here is mine. Stop the printing presses it cost to much to keep on printing the bills over and over again and they spread germs too. If you have an Idea please reply with your suggestion.
End the federal income tax, institute a sales tax, across the board. Yes, I realize that are current system is technically progressive, but it doesn't work out that way because its so convoluted and full of loopholes the extravagantly rich take advantage of. Plus then you don't have a reason to worry about people working off the grid, or drugs or any of the flow streams that are currently not providing revenue.
See "The Fair Tax" by Neil Boortz
lol Go ahead idiot. Sales taxes are the most regresive taxes out there.
As opposed to our current 'progressive' tax code?
YES! Compared to sales tax, out tax code looks amazingly fair. Lets say you make $50,000 a year, with a 10% sales tax and you buy $10,000 in goods. Thats$1,000 in taxes or about 2% of your total income. Lets say I make $1,000,000 a year. to spen 2% of my money on taxes I would have to buy $20,000 in goods.
its not just goods anymore, it's every transaction, with no loopholes. none of the absolutely insane schemes that are currently in place to rob people with registrations and licensing fees. Let's say I work for ten bucks an hour right now, I put in a fifty hour work week so that I can pay rent and utilities, cell phone and the cheapest tier internet I can get. I lose 180 to 200 dollars a week to our progressive system. About 35-40%, which is a pretty fair sized chunk, then I go and try to stretch that as far as I can manage, squirreling a bit away each week for a new whatever. If I work 43-45 hours in a single week I lose money over working 40. Now someone making a million dollars a year, he has a trick to play, he gets away with an average of about a fifth of his earnings being stolen. His lawyers and accountants have magic hideyholes that they put money into, which he can use to purchase at will. Thanks to conveniently placed loopholes and a convoluted, inefficient tax code the majority of his earnings go largely untouched. If we had just a sales tax though, what could he possibly do with that stashed money? lets say we actually had a flat rate sales tax, a true tax that the only exemption from was not purchasing. I now have the advantage, I pay my bills and everything with a forty percent rate, taking home every dollar I worked for, lets call it an even 28600, And realistically I spend about 15000, about 21000 total with taxes, as opposed to before when I took home about 17000 and spent 15000. At a Take home of one million dollars, with out any ability to hide the money, you can expect to be spending about 500 to 600 thousand dollars, which is something like 250000 to 300000 in tax revenue as opposed to 200000 before, and I end up with more of my money, I have to favor the one where I end up less broke.
To the contrary. Stop using Debit & Credit cards until the Banking system is repaired. Do not feed the corrupt with our user fees and outrageous interest charges.
Sorry I'm NOT wanting a credit system that has a set loan dollar amount available for you to charge you purchases. Amount of Credits would mean you have a possitive balance in your account. Maybe I should have gone for a name like positive balance and negetive balance accounting system.
Stop the printing and the invisible-imaginary currency. Our pretend games are costing us our world and its resources, and our happiness..
Invisible money is out of control. Physical currency is easily hideable. We must find a middle ground, a global currency (so there is no chance of having 'off-shore accounts') that is controlled by the people of the world, and not the elite few. How about a system of credits and debits (just that, nothing else) that is completely transparent (with respect to the individual) and accountable?
I understand this is far-fetched, but it is worth it to take a look. Perhaps this could be an inspiration to someone else who can take this idea and make it practical to our current situation.
Here is a more detailed proposal of mine.
THE ISSUE OF CURRENCY
It takes a strong person, a strong nation, a strong world to be able to start from scratch. The time has come to throw away our coins, paper monies, and individual national currencies.
I propose we establish a Worldwide Compensation System.
This system would be completely visible, open, traceable, and totally accountable.
The two main functions of this system are as follows:
Absolutely everything would function within this system. This includes and is not limited to: Inheritances, Returns on Investments, winnings of wagers, salaries and wages, tips and gratuities, etc.
Nothing can be purchased without Credit. And everyone’s’ records are wide open to the public.
The benefits of the WCS will include and is most certainly not limited to the knowledge of hidden transactions, what corporations are spending and paying, what a corporation’s cost is on an item and their price, and who is being unfairly paid.
THE ISSUE OF TAXES
Only for those who voluntarily request such a deduction, the WCS would subtract 10 percent of earnings each year.
This would mean no income tax, no confusing and hard-to-comprehend forms to file, no deductions to figure, no “escape hatch” to create or obfuscation to construct. And since the WCS is publicly visible, anyone at any given time can observe who chose to offer this deduction and who did not.
This deduction would go towards support of all the services and programs of the government, as voted on by the people.
One’s income would be decided based on the open marketplace.
Under the WCS, everyone would earn as much each year as they could and will be able to retain what they earn, up to a certain amount. This arbitrary limit will be put in to place to direct the earnings above the limit towards the World Charitable Trust in the name of the contributor.
Benefactors would have the option of direct control over the disbursement of 60% of their contribution, providing them the satisfaction of putting most of their money where they want to. The other 40% would be allocated to programs legislated by the World Federation and administered by it.
Yes, there may still be the “rich” and the “poor”, but there will no longer be the “starving” and the “destitute”.
This leads us quite effortlessly to the issue of generating enough funds and resources to support our needy, hungry, poor, and elderly.
End the Federal Reserve & "fractional banking" practices. End the wars. End government involvement in climbing tuition and healthcare costs. End government's war on drugs. Go back to the Constitution.
The federal reserve has been doing doing business for too long. A credit and debit system could put them out of business. The health and education of your citizens should be a countries first priority. Unreported income here again a credit and debit system could force you to report all of your income. If your benefiting from illegal activities then here again you could be required with a credit and debit system to state how you generated your credits (income).
Trade women for services. I need grocery's then have my wife for a hour.
come on be "intellectual"
I am mocking the idea of a money less society. If utopias and socialism worked out so great in practice, they would be everywhere already. But they only sound good on paper, thus they don't work. Because enough people are lazy and take advantage of those that are willing to work. Look anywhere and at any organization. The same group of people volunteer for everything.
Some of the problem is mother nature. DNA .The weakest are weeded out today and the strongest survive for another day. We learn as children to look for a ways to get over compensated. Think about Jack and the bean stalk. He traded a cow for a few beans. His mother told him made a terrible trade and tossed the beans out. So he used his strength to climb a stalk and then used his sudden quick-witted intelligence to take home the goose that laid golden eggs. The goose which he stole from the giant. Are we taught to be thieves at an early age?
WOW. Way over think something. I bet you wouldn't let kids read harry potter because it teaches them to be witches too.
You stated that because enough people are lazy and take advantage of those that are willing to work. Like I said it may be in our DNA.
You talked about a fictional kids story.
If anyone wants to get ride of their money, I will accept it with a 30-day money back guarantee in case you wish to change your mind. Send me a private message for more details. Thanks.
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Gold.
gold --Are you thinking coins? Like all types of precious metals in the form of coins with a set value placed for them. Could be difficult to do since the market changes their value daily.
I just saw the price of it online a little bit ago, it seemed right.
I can't wait for the big sell off, then it's gonna hit the fan