Posted: Jul 24, 2005 By: Charles Moeller

Subject: Suggested tax on cash transactions

Comment: Cash out of a banking institution pays 3.0% tax,refundable at 2.5% when cash is returned by the same customer (for the same or lesser amount of cash). Refunds are baded on the amount moved.

Cash into a banking institution pays 3.0% tax, refundable at 2.5% when cash is removed by the same customer (for the same or lesser amount of cash). Refunds are based on the amount moved.

The idea is to promote the cashless society so that all transactions get taxed equally and there isn't an underground economy.