New Michigan law cracks down on tax cheating 'zapper' technology | MLive.com: This report shows the lengths which state governments will go to collect their taxes. Who knows how much is lost to "under the table" cash transactions. The solution here is to pass a new law outlawing software that under-reports cash transactions. The real solution is to get rid of cash altogether. Only the most antiquated businesses today take only cash. Most transactions are electronic. Paper money is playing a smaller and smaller role. Ultimately, cash or paper will be a thing of the past. Just think of the taxes that will be collected. There is certainly an incentive to go this direction. How about illegal activity? That will be dramatically reduced too.
Don't think this system is too good too soon. It's not. There will be a powerful individual that will use it for nefarious purposes. It's only a matter of time. Are you ready?
