Posted on 10/14/2015 2:38:35 PM PDT by dynachrome
Companies that are founded from next year onward plus a range of sectors of the Greek economy will only be able to accept payment via debit or credit card, according to a plan being drawn up by the government as a means of stamping out tax evasion.
The plan, which has yet to receive the final approval from the country’s lenders, foresees all new companies having to be equipped with point of sale (POS) terminals that can accept credit and debit cards. The same will apply to numerous professions. These will include doctors, lawyers, electricians and plumbers, which are all professions where tax evasion is thought to be rife.
It will also be compulsory for companies in some parts of Greece, starting with areas that rely on tourism, to start accepting card payments.
(Excerpt) Read more at ekathimerini.com ...
Quite.
Buy a case of Coke? Oh, you’re at risk of developing diabetes so here’s a surcharge to start covering insulin costs.
Look for the barter economy to explode even more than it has.
This could even impact obamacare.
Over there, it is a way to attack the widespread tax fraud. Of course, smart folks can figure out ways around that.
I can’t see the banking industry being in favor of this. Based on minimum reserve rules, drying up cash on deposit will limit the ability of banks to lend. Specifically, take away large amounts that are from questionable sources and you’re talking about a lot of cash.
And to counter the ‘cost’ to coin, print, transport, etc. currency.
And to fight counterfiting.
And because the 1% has it all (like Scrooge McDuck).
This has to be fought hard or the 4th Amendment, already dying, is dead.
The desire of governments to control led to the income tax, which is highly inefficient, but has the benefit of rendering citizens “naked” in that they have to divulge everything or they are “breaking the law” or “not paying their fair share.”
It’s always amazed me that someone more than 2000 years ago could come up with the concept of having to have a number to buy or sell. For that matter, 100 years ago.
This is one of those things that the ruling class thinks is really smart, but it will backfire. They think they will get an extra source of income. But the grey market is grey for a reason. People don’t want those transactions recorded. People will either cease those transactions or find another way to not record them. The grey market will shrink, the economy will shrink, and the ruling class will not get what they want.
There will be cash on deposit, it will just be in bit form on a computer. Not as a physical substance/
I have a word for you: specie.
Time to stock up on junk silver.
5.56mm
The Germans pay the Greek’s taxes for them.
Good luck with that. Soon they’ll only have a black market.
I just can’t see drug deals being done with plastic instead of cash.
That’s assuming of course that people comply. Very, very doubtful. Especially in places like Greece where they’re used to having a shadow economy. All meaningful business activity will migrate to the grey and black market. And they’ll transact in other currencies or barter if necessary.
Exceptionally stupid move by the Greek government.
No they wont be....but taking freedom of money away from US citizens will be blamed on drug trade.
Anything to have citizens lose freedom
These tyrants and their minions are relentless. The Resistance needs to be clever and ruthless.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.