Bitcoin Forum

Suppose that removes all the coins and longer the official currency of the world is bitcoin. How will became the funding of public works since the State will not be able to print extra money?

a) You either steal the money otherwise, for instance take all the widows, stuff them all into an cremation oven directly after removing gold teeth and emptying their bank accounts, or

b) let those who want the money spent, pay.

I suggest b, as it sounds more peaceful, and I am a very slow person.

This is not a serious solution. And if nobody wants to pay?

Collect the taxes in bitcoin? Why would it be much different. They don't directly pay for public works with printed money anyway. The printed money is lent out to banks mostly.

I think income taxes make up the majority of the tax base. Corporate tax base over all is surprisingly small from what I understand. Although it's not that surprising when you consider all the tax cuts that have been given to corporations over the years. And not to mention how good these corporate accountants are at bending the rules so these companies end up paying low single digit tax rates.

People will still pay taxes when faced with the alternative of jail time. There will be a large underground economy, or shadow economy as some people call it. But the state will always make sure to collect its taxes one way or the other.

Most of the work, governments keep themselves busy with, can be done by private companies anyways.

They must keep you safe, from threats within it's borders and from without.

But keep paying your taxes, it's after all the best thing to do. It's a bit difficult to earn BTC behind bars.  ;)