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Comment: You got it!

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In reply to comment: Non-taxed (see in situ)

You got it!

If you look at the flows of money in DTCC, Fedwire, and SWIFT, you are talking $4 quadrillion, easy.

We could do away with all taxes at all levels and replace with a tiny fee to move money electronically.

Some say that would seriously curtail the flow through these systems of the Giants. But let's do the math.

Say it cuts this churn by 50% and we're only talking $2 Quadrillion

$2Q * 0.49* = $10 Trillion to fund gov at all levels.

This is actually an idea that I think was floated by none other than Ayn Rand once upon a time. Milton Friedman totally hated the idea, because it made it WAY too easy to fund government.

But it is fair. And it is progressive in its way, because the bottom 80% tend to only ever spend what they make, while the top 20% tend to churn double their annual income.

Also think about this. If every transaction is charged the same, no matter what it is for, then there is no need to "report" anything or anyone or the nature of any transaction, only the amount.

IRS gone. IRS code gone. All tax arbitrage gone. Even the bankers think it's a good enough idea to try to work it for their own advantage. They'd like to implement a Tobin Tax on FOREX to provide themselves with "emergency backstop" sort of funds, likely through the IMF.

Velocity is already in the toilet, but would not the revocation of all taxes at all levels tend to fix that up a bit? lol