What is your opinion on having money replaced with a plastic ATM card so nobody will be able to evade tax?

Question

Do you think it would be a good idea to stop issuing dollar bills (would save a bunch of trees in the process) and have it replaced with a plastic ATM card; that way people will be unable to avoid taxes, since there will be a computerized money trail?

You haven't read the question correctly. I am asking for your opinion in the event there is NO DOLLAR BILLS which will be replaced by ATM cards.

Please explain why it is not a good idea or explain if you think it is a good one.

Answer 1

Its great in theory. It would not work unless we had an army of IRS agents scanning billions of transaction reports. that would cost more than the tax gained, I'm sure.

Nice try.

Answer 2

Actually, you can not avoid taxes even with cash. There is a thing called a W-2 that you get at the end of the year. That cashless society won't happen for a long time. Are laws need to change. I am sure ACLU will stall the process as long as possible if not even prevent it.

You can not use your debit, or credit card for gambling and other restricted transactions. (In most states)

Answer 3

There are alternatives to dollar bills and ATM cards, people who want to fly under the radar would still be able to.

Answer 4

This is not a good idea for many reasons, one of them being the fact that dishonest people can become very creative and destructive no matter how hard we decent citizens try to keep things right.

Answer 5

If you don't think that people can avoid taxes with a ATM card then you are extremely short sighted.

Answer 6

I don't think that replacing money (tangible) with plastic (invisible!!!) would be a good idea.