Post
Topic
Board Economics
Re: Cryptocurrency usage will boost economy or make it worst ?
by
SquallLeonhart
on 08/01/2020, 13:50:41 UTC
What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?
To know how it’s going to affect the country we should first of all take a look on how the government spends those taxes that we pay to them. The number one on the list of where your tax money goes to is the healthcare, and the next are security-related programs and national defense, social security, food and agricultural benefits, paying interest on national debts (and of course a lot of countries owe debts), education and veteran benefits.

So, these are the areas that will be affected if people should stop paying their taxes. If you check developing countries where people don’t pay their tax you will notice areas like these are not in good standard .