Saturday 2 September 2017

Why do Governments hate cash?

Most governments, all over the world, encourage citizens to go cashless. The main reason are

  • Control: If government can see all transactions, then it gives more power to government. The Government can easily see who is participating in anti-government riots, which business house/group is financing its opponents.
  • Taxes: A cashless transaction is a taxable transaction. Cashless means more taxes for government.

What should common citizens do?
A common citizen should not allow government to grow bigger or powerful. So a common citizen should transact using cash (or crypto-currency like Bitcoin). This way government has lesser control over people and taxes may be lesser.

So let us be smart. Pay cash wherever possible.


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