This will lead to a transactional tax, touted as the abolishment of the IRS per se. And the abolishment of cash as everything needs to be tracked. They have been trying to do this for years and so far haven’t figured out how it wouldn’t impact average Americans. But...I have a feeling that right about now...they frankly don’t give a darn.
Senate Democrats reintroduce bill to create financial transaction tax
https://thehill.com/policy/finance/543901-senate-democrats-reintroduce-bill-to-create-financial-transaction-tax
Wealth tax. That’s what this amounts to.