The Cato Institute’s Dan Mitchell explains why your government does not want you to be able to hold cash: [T]here are two reasons why statists don’t like cash and instead would prefer all of us to use digital money (under their rules, of course, not something outside their control like bitcoin). First, tax collectors can’t easily […]
The Government Wants Your Cash, All of It! Part II
“Cash is about freedom,” writes the Cato Institute’s Dr. Dan Mitchell. I wrote yesterday that governments want to eliminate cash in order to make it easier to squeeze more money from taxpayers. But that’s not the only reason why politicians are interested in banning paper money and coins. They also are worried that paper money […]
The Government Wants Your Cash, All of It!
The Cato Institute’s Dan Mitchell sounds the cash warning. Politicians, he writes; hate tax havens since the option of a fiscal refuge makes confiscatory taxation impractical. They hate the underground economy because that means hard-to-tax economic activity. And they hate cash because it gives consumers an anonymous payment mechanism. Dr. Mitchell explores “the animosity to […]
