There is no doubt in my mind that the elimination of paper money is in our future. There are numerous articles about central banks developing their own digital currencies. Once that happens, say goodbye to any type of financial privacy or autonomy. I'm willing to bet that during times of economic slowdown, similar to China [1], the US gov't will put expiry dates on the dollars in your savings account in order to stimulate the economy, and people will defend that decision.

[1]:https://bfsi.economictimes.indiatimes.com/news/policy/digita...

Inflation is the tax or negative interest rate on cash.

Why spend all this effort on direct taxation, when they can print the tax. Plus, inflation acts as a proportional tax. The more dollars you have the more the tax effects you.