Comment by OfSanguineFire | Hacker News Reader

Comment by OfSanguineFire | Hacker News Reader

Parent Full thread

> That's a separate problem that allowing overeager regulation of currency utilization enables.

Now it seems like you are resorting to the libertarian fantasizing that used to be so common on news-for-nerds sites.

> Note, I said hush money, not extortion.

Threatening to go public with a story when the other party might feel compelled to pay hush money, is already viewed as extortion.

> Few as litigious as the USA _so far_.

The special litigiousness of the USA is due to a number of longstanding factors including its inherited common-law system that differs from most other developed countries. It is not clear why you would expect other countries to become as litigious anytime soon.

> A better set of questions here: who benefits, and by how much, with regulating currency so tightly?

The general public who can be sure that taxes are being paid fairly and they are receiving the services they should. Again, not all countries are as culturally forgiving of tax evasion as Americans, let alone those places with even less controls over the flow of cash than the USA.

>> That's a separate problem that allowing overeager regulation of currency utilization enables.

> Now it seems like you are resorting to the libertarian fantasizing that used to be so common on news-for-nerds sites.

As I see no reason it is a fantasy, I'll continue "resorting" to the reality that, frankly, the entity able to put me to death legally probably doesn't need to know my reasons and justifications for every action I take, respectfully. If that makes me a left-libertarian, then so be it. Respectfully, sounds like you might have some hangups with discussing points that have overlap in classical liberal philosophies, throwing out legitimate discussion with the baby and bathwater.

>> Note, I said hush money, not extortion.

> Threatening to go public with a story when the other party might feel compelled to pay hush money, is already viewed as extortion.

Payment for private services, like sexual services, are common in Europe and likely preferred to be kept private. I believe you would view this as legalized extortion.Yet, the desire for discretion exists even when the "threat" of information being public isn't necessarily blackmail.

> The general public who can be sure that taxes are being paid fairly and they are receiving the services they should. Again, not all countries are as culturally forgiving of tax evasion as Americans, let alone those places with even less controls over the flow of cash than the USA.

That's a weird way to spell "banks and financial institutions." There are plenty on controls already on the impoverished and middle class. A blunt hammer like this gums up transaction processing and allows for additional regulatory capture by banks and financial institutions.

> the entity able to put me to death legally

The country that is the subject of this HN post does not have the death penalty.

> That's a weird way to spell "banks and financial institutions."

’Cause I wasn’t spelling that. Within welfare states, public will to minimize tax evasion is widespread. In Europe steps are already being taken to improve transaction processing and democratize this area of the banking industry, so there isn’t necessarily the “gumming up” of the works and regulatory capture that you assume. If things don’t look so good in your country, I’m afraid that’s your problem to sort out.

And rates of tax evasion are high enough to justify further entrenchment and subsidization of banking institutions?

> The country that is the subject of this HN post does not have the death penalty.

Fine, lifetime imprisonment on trumped up charges. Please don't be disingenuous, coercion is coercion whether the loss of liberty is death or imprisonment.

Perceived ates of tax evasion are high enough to justify further actions to make it harder to avoid tax.

They are definitely perceived high enough.

In Europe salary earners are taxed on the income as they receive it through Pay As You Earn and similar and it is difficult to avoid. The public wants it as difficult for all others to find it as difficult.

Whilst FAANG pay very little tax.

Even in the US Warren Buffet says he pays a lower rate of tax than his secretary.

The basic rule is that tax is progressive and rich people should pay a larger percentage than normal workers.

Of course -- taxes should be progressive. But this doesn't address "rich people" evading taxes, it addresses transactions from people from all slices of the socioeconomic spectrum, with a cap that is entirely too low and invasive.

For example: if and when your country goes to pot, and you have a moral obligation to get your family out because we have this perceived notion of borders and sovereignty based on history we didn't agree to, a $3k block on transactions may well block you. We don't have to imagine very hard -- the US withdrawal from Afghanistan is a recent prime example. Social order is delicate.

As a more mundane example, perhaps I purchase an item at auction, art or contents of a storage locker. Reporting burden should be on the records of the facility and subject to occasional audit, not on every single transaction that goes through. That'd be like implementing a carbon toll for every mile that I use a bus, walk with shoes, ride a bike, or use any form of motor vehicle. There are much better ways to do that.

The point of a storage locker is that the contents are private so it is not on the record. Much easier to track transactions rather than things.

Road pricing will come in so there will be a tax on every mile you use a bus or use a motor vehicle.

Yet, it still doesn't address the core issue, tax avoidance by the wealthy.

Further, implementing a road tax would require cumbersome monitoring generally (and especially if making it progressive) or, if equally treated, would be horribly regressive.

But road pricing will happen in the next 20 years or something similar so we have to work out what it is.

The use of petrol etc needs to be cut.

I admit I do live in a city and can get to shoips, pubs or the railway station within a 15 minute walk.

Reply on news.ycombinator.com