America Needs a Trustless Automatic Taxation System

Trustless automatic collection is the best way to equalize the tax system. The technology to collect taxes on investment income as someone generates it exists right now. Blockchain software constructions called Smart Contracts; or decentralized apps (Dapps), can be built into financial instruments like stocks, bonds, annuities, derivatives, and cryptocurrencies.

The Smart Contracts, or Dapps, can be programmed to pay the Treasury a percentage of the funds generated as taxes. For example, a stock Dapp, would pay a percentage of dividends to the Treasury.

Trustless means that nobody needs to trust that people will pay their taxes. Algorithms automatically collect the taxes before the taxpayer gets the money. Most people do not think about sales or withholding tax because they never see the funds.

Trustless taxes discourage tax evasion because there are few opportunities to evade them. Most people cannot evade trustless taxes because they get no chance to do so. Many taxpayers will never even think about trustless taxes which reduces the incentive for evasion.

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Would Bernie’s Plan Help the Economy?

U.S. Senator Bernie Sanders (D-Vermont) has proposed an economic agenda that amounts to the biggest and boldest set of spending increases since World War II. Basically, Sanders would like to spend $14.5 trillion in a 10-year period.

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Crisis on Campus: College Enrollment is Falling

It looks as if a major crisis is about to affect American colleges and few people are noticing. Not only could the enrollment drop and devastate campuses, the effects could be felt far beyond campus, for example, on all the businesses that depend on college students’ business, which range from used bookstores to pizzerias.

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Goldman Sachs Is Doing Great, Americans Are Not

The American people are not taking part in the recovery. Almost all the new wealth being generated is going to Wall Street and not Main Street. Goldman Sachs’ revenue increased by $2.38 billion over the past year, while the demand for new housing is 25% lower than it was 10 years ago, according to the National Association of Realtors’ chief economist, Lawrence Yun.

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