With BitCoin, there can be a "marker" placed on EVERYTHING.…
With BitCoin, there can be a "marker" placed on EVERYTHING. Every commerce and ecommerce trans. can pay a sales tax, including micro payments, and instantly. Furthermore, the collection agency can be minimized to a fraction it is today...
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With the added efficiency (cutting the needed bureaucracy, and federal workers), and a (let's say) 10% sales tax on all commerce; the income tax can be eliminated without a negative effect on government revenue, and less accounting for each citizen.
Eliminating income tax, and accounting requirements, production is increased.