Thursday, January 19, 2012

A Bold Idea for US Tax and Currency Reform

The demand for Federal Reserve Notes for Federal transactions has never been greater. The result is a shortage of dollars along Main Street USA. What is needed in response are alternative currencies that can be used for commerce without tax consequences. In other words, any transaction completed with other than Federal Reserve Notes would be non-taxable as income or capital gains. Tax reform would then focus on regulating the use and flow of Federal Reserve Notes exclusively. Only earnings and trades transacted in Federal Reserve Notes would be reportable and taxable. Business transacted using alternative currencies would be considered "blind events" for tax purposes.

US tax and currency reforms are urgently needed if Federalism is to save itself as a form of governance...

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