West
Senior
So, if the economy goes in the tank, then people start selling stuff to pay for food and necessities. Think garage sales or roadside farm stands- you need change and small bills. Yes, some people have a phone app to take debit cards, but then people can track the transaction, and charge tax. If you want to prevent a local or underground exchange, for anything from zucchini to used snowsuits, take away the small bills and change. Think about having your garage sale, or the old car or boat you sold to someone taxed as income that year... and the buyer has to pay sales tax!
Me, I'm going to hang on to some change.
It's law that if one has more than a few hundred dollars in income in a year that they are required by law, fine, and even jail time if one doesn't pay at least 15% of that income to the United States Treasury.
Many people think I'm wrong etc. ect. But it is what it is. All Income has a 15% mandated liability on it off the top. Then one has to spend their time or pay to do the paperwork to be compliant. So in fact everyone is now a unpaid and or pay to collect taxes for free, revenuer.
Our founding fathers are rolling in their graves.