Hacker Publishes 2TB of Data from Cayman National Bank

Re:Hacker Publishes 2TB of Data from Cayman National Bank by woofcat on Monday November 18, 2019 @08:46PM (#21570061)

Not who you replied to, however modern taxation requires lots of information to work. For instance income tax works, because every employer is reporting how much they paid you. Then you report how much money you got paid, then factor in deductions such as specific contributions to charities etc. All of which are reporting to the Government at the same time.

Before the advent of computing and auditing it would be hard to tell if a blacksmith sold 50 or 55 swords. So income tax wasn't viable and instead taxation on lands were more common.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by aianus on Monday November 18, 2019 @09:51PM (#21570299)

HK raises practically all of its revenue from land and (until China started screwing it up) it was one of the richest, most developed places on Earth.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by boomboomsubban on Tuesday November 19, 2019 @02:53AM (#21571315)

>HK raises practically all of its revenue from land

I don't know what you mean. Hong Kong is a trading port, and any wealth it "creates" is done by refining imported materials. This option is only available someplace lots of trade naturally occurs, like Hong Kong's river basin.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by aianus on Wednesday November 20, 2019 @12:31PM (#21586100)

I mean the government raises its tax revenue almost exclusively by leasing land and taxing real estate transactions instead of taxing income like we do in the West.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by boomboomsubban on Friday November 22, 2019 @03:59PM (#21610019)

This system isn't very exportable, I can't imagine the nationalization of land being a popular move no matter how low you promised to make income tax.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by woofcat on Tuesday November 19, 2019 @08:43AM (#21572694)

Okay and?

My point is that to collect property tax it's easier for the Government and Income tax is harder for the Government. It requires more reporting...

It has nothing to do with the value extracted.

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Re:Hacker Publishes 2TB of Data from Cayman National Bank by aianus on Wednesday November 20, 2019 @12:30PM (#21586092)

My point is you don't need income tax at all to maintain a developed society as demonstrated in HK, Washington State, etc.

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