Re:India's Misguided War on Cash
by kranner on Wednesday November 23, 2016 @09:57PM
(#13027663)
I'm going to ignore the personal jibes you've made and ask you a couple of simple questions. No hand-waving answers please.
1. I'm a shopkeeper in 2017 and all my black money is gone: burnt it, paid a fine on it, whatever. A customer comes in and makes a purchase on a new currency note. What prevents me from not reporting this to the tax authority _because_ of 2016's demonetisation? Note that there is no tracking of cash.
2. I'm a corrupt government official and I want some 'mithai' to select your tender application. I want to get paid in new 2000 rupee notes. What stops me from accepting a cash bribe?
1. I'm a shopkeeper in 2017 and all my black money is gone: burnt it, paid a fine on it, whatever. A customer comes in and makes a purchase on a new currency note. What prevents me from not reporting this to the tax authority _because_ of 2016's demonetisation? Note that there is no tracking of cash.
2. I'm a corrupt government official and I want some 'mithai' to select your tender application. I want to get paid in new 2000 rupee notes. What stops me from accepting a cash bribe?