Cashless

Prairieboy43
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Prairieboy43
Edited Date/Time 5/27/2015 12:43pm
Any talk in America, going Cashless. Big talk in Germany,People seem aware of government going to cash less society. There goes freedom? Governments broke, need control of money flow to pay themselves? Evil
How will we sell used bikes? No Cash, no go! Government will tax on that used bike? Trade you oil change for a pair of goggles? Evil
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Old-Man
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Old-Man 5/23/2015 7:51pm
5/23/2015 7:51pm
Many Governments have tried making their own currency to fail.
with the advent of the puter many have tried to make a Digital currency which makes sense to me.
But with the Internet comes fraud, the Digital currency will come to fruition but in time. BITCOIN had it figured out but did not have the Government's approval so what did they do?
Sure...they Knocked off the intervater and now in the process of taking it over....with "Tweaks of their own" of course.

Anything to do with $Money will always be corrupt
Old-Man
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Old-Man 5/23/2015 7:58pm
5/23/2015 7:58pm
Forgot to add...
The Barter system will always survive.
You can do what I can't so what I need done you can do, when you need something done you can't do I can.

Thats what the World started with and that's what will always work.
500guy
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500guy 5/23/2015 8:04pm
5/23/2015 8:04pm
That won't happen in the USA because it will be offensive to people who have entered illegally or commit crimes.
Xracerdone
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Xracerdone 5/23/2015 8:18pm
5/23/2015 8:18pm
It's part of the New World Order, all societies will be cashless.

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burn1986
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burn1986 5/23/2015 8:30pm
5/23/2015 8:30pm Edited Date/Time 5/23/2015 8:35pm
mark of the beast, mark of the beast! Cool Boy you don't hear much about that anymore.

There are tremendous benefits for a government or dictator type of rule to have a cashless society. It would take care of a whole lot of issues - deter robberies, help eliminate illegals working without aurthorization, and track citizens.

But you don't really need to eliminate cash right away to do all that. Just create a merchant system that doesn't accept cash and no one will be able to buy or sale with cash (which our society is moving in that direction). Of course, it would help to have some type of mark or something on the citizens that was tied into their bank accounts. Anyone without the mark could not buy or sell anything (that's a ways away, though).

Think about the control a government could have if you take it further, especially through data collecting from tracking all buying and selling profiles and global tracking of everyone in America/ world.
Old-Man
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Old-Man 5/23/2015 9:51pm
5/23/2015 9:51pm
Think about the control a government could have if you take it further, especially through data collecting from tracking all buying and selling profiles and global tracking of everyone in the world."

GOV is already on it..Think Zuckerberg made Facebook? think again and it's gaining ground everyday. That site has more DATA per person than Social Security does.

Social Security...Think about it... Social security. WOW nothing at all secure about your social activities online is secure and this FB (GOV) is gaining ground as long as people are willing to feed them.
Old-Man
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Old-Man 5/23/2015 9:51pm
5/23/2015 9:51pm
Nice h&m...LOL
Welcome back BITCH!
Olson
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Olson 5/24/2015 2:48am
5/24/2015 2:48am
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes on sales like that. You paid tax when you bought the product new. Only time I use cash is when I travel to less developed countries.
ns503
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ns503 5/24/2015 4:23am
5/24/2015 4:23am
Olson wrote:
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes...
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes on sales like that. You paid tax when you bought the product new. Only time I use cash is when I travel to less developed countries.
Can you explain the no taxes part of that?
IWreckALot
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IWreckALot 5/24/2015 5:50am
5/24/2015 5:50am
I know the American government would really like to get rid of cash and let the credit and debit card networks control the currency flow. They've recently started requiring credit card processors to collect and verify TaxId's and SSN's in order to allow full payment of the business's credit card funds. If we don't collect the proper TaxId's, we have to withold 30% of their processing funds and send it to the IRS. And at the end of the year we issue a form (I believe it's a 1098T) showing what the business processed so the government can ensure they get their cut of the right amount.

I don't think the system would survive without cash or without credit/debit cards at this point.
borg
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borg 5/24/2015 6:27am
5/24/2015 6:27am
Actual real cash is mostly relegated to criminal activities or tax evasion transactions. I know it's also used to buy and sell used stuff person to person but even there, they are usually evading taxes because nobody reports the income or pays the sales tax on it. In my business, a person could use cash pretty easily to avoid taxes but not on a very large scale. I use my debit card and source specific credit cards (Home Depot) for purchases of tools and materials. It gives me a monthly, itemized printout of everything I purchase. Customers sometimes pay me in cash for very small jobs, $200 or less but they really don't want to mess with cash for anything much over that. They pay me by check, which is cash but traceable through the bank. The businesses that deal in cash like bars and restaurants almost all cheat. The big chains probably don't but the small guy does. I know this for a fact. Most of them would probably not be able to exist if they didn't.

Except for buying used stuff or illegal drugs private party, there is almost nothing you do that requires cash anymore. Hell, I think casinos accept debit cards for chips even. Confining all purchases and payments to bank traceable transactions would put a huge squeeze on the underground economy.

Not sure how bars and restaurants would do business though. Some of the bars I know have eliminated credit card purchases because it costs them money. Instead they put in an ATM and the customer has to pull out cash or go elsewhere. The owner actually makes money on ATM transactions but the bar transactions are all still cash.
71Fish
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71Fish 5/24/2015 7:54am
5/24/2015 7:54am
Olson wrote:
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes...
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes on sales like that. You paid tax when you bought the product new. Only time I use cash is when I travel to less developed countries.
That's still paying with cash even if no physical paper money was exchanged.
FLmxer
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FLmxer 5/24/2015 8:11am
5/24/2015 8:11am
Next it's tubes tied at birth and you can't have a kid until you prove your worth. Oh wait, That would fix every single thing. Damn No chance of that, it's not Merica and so unfair. Lol
500guy
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500guy 5/24/2015 8:21am
5/24/2015 8:21am
borg wrote:
Actual real cash is mostly relegated to criminal activities or tax evasion transactions. I know it's also used to buy and sell used stuff person to...
Actual real cash is mostly relegated to criminal activities or tax evasion transactions. I know it's also used to buy and sell used stuff person to person but even there, they are usually evading taxes because nobody reports the income or pays the sales tax on it. In my business, a person could use cash pretty easily to avoid taxes but not on a very large scale. I use my debit card and source specific credit cards (Home Depot) for purchases of tools and materials. It gives me a monthly, itemized printout of everything I purchase. Customers sometimes pay me in cash for very small jobs, $200 or less but they really don't want to mess with cash for anything much over that. They pay me by check, which is cash but traceable through the bank. The businesses that deal in cash like bars and restaurants almost all cheat. The big chains probably don't but the small guy does. I know this for a fact. Most of them would probably not be able to exist if they didn't.

Except for buying used stuff or illegal drugs private party, there is almost nothing you do that requires cash anymore. Hell, I think casinos accept debit cards for chips even. Confining all purchases and payments to bank traceable transactions would put a huge squeeze on the underground economy.

Not sure how bars and restaurants would do business though. Some of the bars I know have eliminated credit card purchases because it costs them money. Instead they put in an ATM and the customer has to pull out cash or go elsewhere. The owner actually makes money on ATM transactions but the bar transactions are all still cash.
I pay cash for almost everything, it's nobody's business where I eat or play golf , I use the wrong name and ph # for those Grocery store cards too, it's none of their fucking business.

Who ever mentioned facebook was correct, them and Google have more info on people than the Government and the kicker in it all is we signed up and agreed to it.
el moto diablo 5/24/2015 10:07am
5/24/2015 10:07am
Not sure about cashless but look for the IMF and World Bank to switch from the dollar to the yuan as the reserve currency and expect a major market dip in October. The U.S. is in for a rough ride over the next 10 years. Interest will go up and cuts will need to be made to reduce the deficit.
APLMAN99
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APLMAN99 5/24/2015 3:07pm
5/24/2015 3:07pm
IWreckALot wrote:
I know the American government would really like to get rid of cash and let the credit and debit card networks control the currency flow. They've...
I know the American government would really like to get rid of cash and let the credit and debit card networks control the currency flow. They've recently started requiring credit card processors to collect and verify TaxId's and SSN's in order to allow full payment of the business's credit card funds. If we don't collect the proper TaxId's, we have to withold 30% of their processing funds and send it to the IRS. And at the end of the year we issue a form (I believe it's a 1098T) showing what the business processed so the government can ensure they get their cut of the right amount.

I don't think the system would survive without cash or without credit/debit cards at this point.
30%? Of the gross sales? That's a huge amount and higher than the actual margin for some businesses. That's a lot more than the actual operating profit percentage for large retailers. I think Walmart returned something like 3.4% last year, so the idea that 30% of their credit and debit sales being held back sounds pretty incredible.
IWreckALot
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IWreckALot 5/25/2015 10:24am
5/25/2015 10:24am
IWreckALot wrote:
I know the American government would really like to get rid of cash and let the credit and debit card networks control the currency flow. They've...
I know the American government would really like to get rid of cash and let the credit and debit card networks control the currency flow. They've recently started requiring credit card processors to collect and verify TaxId's and SSN's in order to allow full payment of the business's credit card funds. If we don't collect the proper TaxId's, we have to withold 30% of their processing funds and send it to the IRS. And at the end of the year we issue a form (I believe it's a 1098T) showing what the business processed so the government can ensure they get their cut of the right amount.

I don't think the system would survive without cash or without credit/debit cards at this point.
APLMAN99 wrote:
30%? Of the gross sales? That's a huge amount and higher than the actual margin for some businesses. That's a lot more than the actual operating...
30%? Of the gross sales? That's a huge amount and higher than the actual margin for some businesses. That's a lot more than the actual operating profit percentage for large retailers. I think Walmart returned something like 3.4% last year, so the idea that 30% of their credit and debit sales being held back sounds pretty incredible.
It is regulation. My company is the one that was appointed to collect the funds. I'll get the exact percentage tomorrow when I get back to work but 30% is in the ballpark. Within a few percentage points.

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APLMAN99
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APLMAN99 5/25/2015 11:16am
5/25/2015 11:16am
I think I misread your earlier post. I missed the part about only withholding for accounts that failed to provide tax IDs. That makes much more sense than everyone having this deducted.
Uncle Tony
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Uncle Tony 5/25/2015 11:32am
5/25/2015 11:32am
There has been talk of this since the mid-eighties, I don't think it will happen in my life time, at least not in this country,my daughter lives in Norway and said they're trying to follow the swedes, but Scandinavia has a small population and can go cashless, to many people and illegals here for that
Oh Billy
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Oh Billy 5/25/2015 12:40pm
5/25/2015 12:40pm
Funny...I was just talking with my wife about this a couple of days ago! Government wants to be able to track your every move.....
IWreckALot
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IWreckALot 5/26/2015 5:55am
5/26/2015 5:55am
APLMAN99 wrote:
I think I misread your earlier post. I missed the part about only withholding for accounts that failed to provide tax IDs. That makes much more...
I think I misread your earlier post. I missed the part about only withholding for accounts that failed to provide tax IDs. That makes much more sense than everyone having this deducted.
Yes. That is the caveat. It is 28%. We send the merchants all 1099-k forms at the end of the year showing how much they processed so the government gets their full share.

Here is the article.

http://www.irs.gov/pub/irs-pdf/n1430.pdf

And I know you're wondering and the answer is NO. They do not give us a collection kickback for collecting on their debt.

Olson
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Olson 5/26/2015 6:13am
5/26/2015 6:13am
Olson wrote:
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes...
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes on sales like that. You paid tax when you bought the product new. Only time I use cash is when I travel to less developed countries.
ns503 wrote:
Can you explain the no taxes part of that?
You don't pay tax on tax. If the first owner paid tax for an item when he bought it brand new the second or third owner don't need to pay tax.
Olson
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Olson 5/26/2015 6:15am
5/26/2015 6:15am
Olson wrote:
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes...
I haven't paid cash for a used bike, car etc in ages. Wire transfer is the way to go. No worries of getting robbed. No taxes on sales like that. You paid tax when you bought the product new. Only time I use cash is when I travel to less developed countries.
71Fish wrote:
That's still paying with cash even if no physical paper money was exchanged.
Yes, and that's what we do and have been for a long time now. Only old people and immigrants use paper money.
Dtat720
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Dtat720 5/26/2015 6:23am
5/26/2015 6:23am
Digitize money. Control spending. It isnt your money after all... It belongs to the government who borrows it from the fed and other banks. It is their money. So in times like now, when there is a cash crunch among governments, if it is all digitized, you can be blocked from spending "their" money on uneeded things. Because they need it to keep the economy stable. It happens. Countries are confiscating wealth already to keep the governments afloat and economies from crashing. France tried it with a 75% tax on wealth. So in response a lot of wealth left the country. It is legalized theft.
Without cash, you lose control of your own wealth.
imoto34
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imoto34 5/27/2015 12:43pm
5/27/2015 12:43pm
I can see the local weed hustlers with a tablet and cube, twenty bucks at a time!

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