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  • Freedom from Taxes: Introduction of Automated Payment Transaction Tax and Universal Basic Income

  • Auteur(s): Boris Kriger
  • Narrateur(s): Cat Lookabaugh
  • Durée: 1 h et 5 min

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Freedom from Taxes: Introduction of Automated Payment Transaction Tax and Universal Basic Income

Auteur(s): Boris Kriger
Narrateur(s): Cat Lookabaugh
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Description

The world is changing at an incredible pace. Many areas do not have time to come into compliance with these changes. One of these areas is taxation and incomes.

The principle of collecting taxes from companies and individuals is flawed because it implies the possibility of tax evasion, and because high taxes really hinder the development of business and the lives of individuals, and therefore the development of the society for which these taxes are collected.

It seems worthier to blame not the system failures, but the system itself, which suggests the possibility of failures.

The principles of taxation came to us from ancient times and since then little has changed. However, it became possible to change this system, since in our time a significant part of financial transactions is carried out in electronic form, which makes it possible to automatically tax not the companies and individuals, but the movement of money itself.

The volume of financial operations is many times greater than all other economic indicators of the country, since in the financial system the same money passes from hand to hand many times. If every time they move, a small percentage is deducted to the country's budget, then this can replace all taxes, guarantee immediate replenishment of the budget, abolish the inefficient, expensive tax authorities and, most importantly, practically free the population from high taxes that currently fall intolerable mainly on the middle class.

The rich, in turn, no longer fearing persecution for tax evasion, will return capital from offshore companies (where their money often lays a dead weight) into the economies of their countries.

The poor will also replenish the budget imperceptibly for themselves, deducting a small percentage from each monetary transaction.

Such an automatic collection of taxes in the form of a low percentage of all financial transactions will strengthen the economy, prevent the deepening of economic crises, and create a system of effective fund-raising in the event of disasters and wars.

It is important that such a reform will also allow replacing the social and pension system with a universal basic income paid from the budget to the entire population of the country. And this is not a fantasy, but an absolute necessity. Computerization, robotization, and automation already lead to the disappearance of many jobs. If the basic income for all is not introduced, it is fraught with insane spending on the creation of unnecessary jobs, or high unemployment, which will lead to social upheavals. It will be necessary to increase the budget of the country almost doubled in order to pay all residents the basic income, regardless of their productive work activity.

©2019 Boris Kriger (P)2019 Boris Kriger

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