Sunday, April 16, 2017

Negative tax central banking

Go ahead, all you Simon Wren Lewis fans, here is your income supporting monetary standard. Just remember, the sandbox supports the idea just fine, and it may have positive use.  It is simple, but it is still a competitive currency world.

The owner of the secure element taps the government negative income tax icon, with finger print.  Government tax coins then appear mysteriously, out of thin air, in is government tax dollar ledger.


The secure element has enough user information and known the value  of the tax dollar with respect to user purchase.  It can set the proper negative income and under contract, issue the proper number of coins. Good idea? Dunno, I am a secessionst, the Swamp can do what it pleases, just make sure we live in a competitive currency world or we will have many large crashes.

However, to be clear.  The secure element can predictably issue coins, I doubt the rules will allow it. Tokenization of the process and a standard coin issuance pit is needed.

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