I have known many general contractors. All of them started out with a cash based business, but all of them changed when they got big enough to hire a CPA. All of them grew to the point that they had to report +90% of their income. When they were little fish it did not matter, but when they had to start qualifying for construction bonds, it changed.
The far bigger problem is that if you become a politician, you are nearly guaranteed to become wealthy. Those SOBs know how to hide their money. They are never affected by the death taxes and all of their generations of children, grandchildren, etc. are wealthy.
Under what you propose, my elderly mother, whom I send money to, would have to report the money and that is wrong.
Also, you didn’t answer. Why not make it as low as $5? Or even $1? Why not track every single penny electronically by forcing us to a digital currency?
Why are you so jealous of others?
I had some work done. Paid the guy in cash.