https://www.federalreserve.gov/faqs/what-is-a-central-bank-digital-currency.htm
What is a Central Bank Digital Currency?
1. Better ability to collect taxes
If you can only buy and sell using a digital currency and all transactions are going through the government run cryptocurrency then it will eliminate tax fraud. This is how we stamp out crime. This is how we caught Al Capone, all criminal organizations have a problem with taxes. Granted, there might be some selective prosecution where some person helps their neighbor by fixing her car in exchange for a cake, that person might go to jail for ten years and have his property seized whereas one of your betters, like the son of the President, might be able to get the IRS to overlook a minor tax fraud issue of a couple of million dollars.
2. Better control of what you buy
Right now they don't have good control over what you buy. They may want you to turn down the thermostat and wear a sweater, but do you? They may have suggested you start eating crickets and stop eating meat, but do you? People still have bad habits even though the government has asked you to stop. This gives them the control they want, they can calculate how much meat you have purchased and decide when you have come to your limit. Obviously this might create a minor inconvenience if you want to have a barbecue, but let's be real, it would be awesome to have cookout where everyone is barbecuing crickets. Also, it can put a stop to these disruptive posts on the internet, if the government finds someone spreading disinformation or even posting mean memes about Budweiser they can punish you. Instead of suspending your Facebook account for a month they could suspend your bank account for a month!
3. More equitable policy
They are even suggesting that when you go to buy something the price can be adjusted depending on how much money you have. If you are wealthy, say have a bank account exceeding $10,000 you pay more whereas the person with less than $100 in their bank account can pay less. In this way the government can balance out the bank accounts so that everyone is the same.
4. You will be happy
Or else you will be punished.
What is a Central Bank Digital Currency?
1. Better ability to collect taxes
If you can only buy and sell using a digital currency and all transactions are going through the government run cryptocurrency then it will eliminate tax fraud. This is how we stamp out crime. This is how we caught Al Capone, all criminal organizations have a problem with taxes. Granted, there might be some selective prosecution where some person helps their neighbor by fixing her car in exchange for a cake, that person might go to jail for ten years and have his property seized whereas one of your betters, like the son of the President, might be able to get the IRS to overlook a minor tax fraud issue of a couple of million dollars.
2. Better control of what you buy
Right now they don't have good control over what you buy. They may want you to turn down the thermostat and wear a sweater, but do you? They may have suggested you start eating crickets and stop eating meat, but do you? People still have bad habits even though the government has asked you to stop. This gives them the control they want, they can calculate how much meat you have purchased and decide when you have come to your limit. Obviously this might create a minor inconvenience if you want to have a barbecue, but let's be real, it would be awesome to have cookout where everyone is barbecuing crickets. Also, it can put a stop to these disruptive posts on the internet, if the government finds someone spreading disinformation or even posting mean memes about Budweiser they can punish you. Instead of suspending your Facebook account for a month they could suspend your bank account for a month!
3. More equitable policy
They are even suggesting that when you go to buy something the price can be adjusted depending on how much money you have. If you are wealthy, say have a bank account exceeding $10,000 you pay more whereas the person with less than $100 in their bank account can pay less. In this way the government can balance out the bank accounts so that everyone is the same.
4. You will be happy
Or else you will be punished.
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