Post
Topic
Board Economics
Re: How will blockchain affect the taxing system?
by
davis196
on 12/10/2018, 05:56:06 UTC
The recent exposé about the Trump family finances shines a light on the ways in which the wealthiest Americans can avoid estate and gift taxes on the transfer of assets to their children.

https://www.nytimes.com/2018/10/11/opinion/trump-bezos-estate-tax.html?action=click&module=Opinion&pgtype=Homepage

"Like Donald Trump, many of the Forbes 400 acquired some or all of their wealth from their parents. These transfers of wealth pass entirely free of income taxes."

The measure of a well-functioning democracy is a tax system that fairly apportions its burdens.

Can blockchain and the inevitable virtual economy make the taxing system less disproportionate?

Most of the wealthiest Americans avoid taxes by transfering assets to charity foundations,not to their children.Look at Bill Gates,Warren Buffet and many billionaires.
However,I'm pretty sure that taxation can be implemented inside the blcokchian,as a part of the transaction fee.Anyway,I don't think that such taxation will be implemented.