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Thread: Digital Tax

  1. #11

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    Addressing the Digitalization of Money in Canada
    https://twitter.com/PaulMitchell_AB/...93645662810132

    Paul Mitchell
    @PaulMitchell_AB

    Here’s the end-game, buried on page 214 of the 2022 budget: the “potential” start of a central bank digital currency for Canada and all the needed control mechanisms to make it work.

    Don’t worry folks! You can totally trust the government to not financially enslave you, honest.

  2. #12

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    I am thinking a digital tax would be as uncomfortably invasive as a digital exam.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  3. #13

  4. #14

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    been thinking what tactic TPTB would use to get us into CBDC. Some think a financial collapse, some think by legislation like must pay taxes, utility bills in CBDC for 'better record keeping and security' reason. I think TPTB needed a carrot. I think debt forgiveness and/or favorable interest rate fit that bill quit easily.

    If someone is in debt say, a student loan, car loan, mortgage, the central bank could offer an escape route for debtor, in exchange for rolling dollars into CBDC. It could be a much reduce loan rate or even favorable debt repayment ratio.

    For example, if joe smuck has a car loan of 40k, he can choose to enroll his loan and future income in CBDC (assuming he is employed). He could rewarded with a lower loan rate. For loan payment, a dollar worth could be bumped if converted to CBDC say at an extra 10% (or other bonus rate) toward loan repayment. The lower the income bracket, the higher the ratio of conversion to 'help the poor'. For bigger mortgage holders, this is a great carrot to get the loan paid off quicker.

    For example, if jane smuck has 100k in saving account, TPTB can offer a higher interest saving rate under CBDC account.

    VISA/MC would welcome CDDC as it can offer a lower loan rate (higher sales volume) since fraud is reduced (trackable) under CBDC. Just like how we embraced credit card because of convenient and other bonus feature (air mileage, rebate, credit points), CBDC can copy this fool proof tactic
    Last edited by yellowsnow; 10-17-2022 at 04:56 PM.

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