Re:Why we should fear a cashless world
by nunyabuizness on Monday March 21, 2016 @04:15PM
(#11331514)
Ok, so that gives us two options:
1) make taxes impossible to avoid. Problem: tax code is written not by the few tax-evading small businesses, but by the many tax-evading large businesses, who won't be spending less on getting loophole-filled laws written. So this plan won't work.
2) force people to pay less taxes, such that they cost of evading is higher than the cost of paying them.
Instead of "the most dominant market players are the ones with the best products", we get "the most dominant market players are the ones who have some combined aptitude in product value and tax evasion". That is, some resources are wastefully diverted to tax evasion instead of to making better products.
A smart dude who could have been working towards self driving cars is instead finding ever-cleverer ways to hide money or game the tax code.