Money - Taxing it once.
Mathew Innes
Public
Seen by 70
Can we please find a method of Taxing Cash, Once. They have serial numbers on it, so once it has been taxed once, it should be entered into a system that doesn't tax it again and again and again leaving it in a negative value after its changed hands a few times. How can this be achieved so its value increases or maintains it value within our communities ?
Mathew Innes Wed 26 Jul 2017 7:09AM
each one has a serial number, they are all unique for sure. Once one note has been issued to someone, do they own it? yes well no, maybe not. but they can keep it till they decide to use it again, for products or services. this gets a tax of say 15%, before they earnt it, they more than likely would have already been taxed (income tax) so each time it's used, its being taxed, and if say, its been used to pay someone, they will then use it (again income tax placed upon it) and then a product or service takes yet another 15% off it. or have i got that all wrong? one note produced, can earn the creator a lot of money every time it changes hands. is that fair? i feel its losing value, yet they are doing all the hard work, they should then have the right, if they pass it down the chain, to then collect get any further tax taken off it shouldn't they :-P haha someone please explain to me; from the start of the money through the whole process, i must be missing something.
Tane Harre Wed 26 Jul 2017 7:57AM
The note isn't worth anything (well, bugger all), it is a representation of a value of trust. Basically, I trust that when you give me a dollar it will be worth a dollars worth of anything.
...it gets a lot worse than that but, lets not go there.
idiom axiom Thu 27 Jul 2017 8:47AM
You might be thinking of GST which works like that, and refunded all the way down the chain.
Cash isn't taxed. Its used to pay a tax. The note doesn't get 15% smaller each time it is used.
Mathew Innes Thu 27 Jul 2017 11:43AM
so how does a 10$ hold its value ? once its been used ten times and taxed ten times, that note (via serial number) has to lose face value somewhere?!, inflation or deflation what ever that's called cant keep propping it up from nothing behind it? or do we just use debt or loans to keep its value? how does the bank or issuers maintain the value of the currency when theres nothing but all our hard physical work indebted to the issuers?
idiom axiom · Wed 26 Jul 2017 12:18AM
The nominal value of cash never changes and is never taxed.