Bloody hell judgypants, there was me wanting to put a close to this thread as friends and you have to throw me that one LOL.
Ok first of all I'm obviously doing this with the aim of getting people talking and thinking about money, what it is, how its created, how it works, and more importantly raising awareness of the unconditional basic income so that its implemented nationally. Therefore making it a national sales tax. Secondly its not just a sales tax, its a tax on all transactions involving money or an exchange of money.
And my campaign for mayor of bristol is my main way of fulfilling these aims.
However, and here comes the next can of worms LOL, my policy for bristol means I will print local currency, the bristol pound, that can only be spent in bristol. the bristol pound will be exchangeable at the bank of bristol (the city council turned into a bank) for pounds sterling on a 1:1 basis, making 1 bristol pound worth £1 sterling.
This would keep the money circulating in bristol and keep tax revenue high.
Ok to preempt some of the probable criticisms.
- What happens If everyone goes to the bank to exchange their bristol pounds for sterling?
Answer : the same thing that would happen if everyone went to their current bank to withdraw their cash in pounds sterling. There wouldn't be enough money and the system would crash.
But people don't all run to the banks at the moment because they trust (rightly or wrongly) that the money is there and is worth something. It's not of course "I promise to pay the bearer, on demand, 5 pounds of gold" became a lie a long time ago.
This would mean people start buying local goods, or they spend the extra time and money buying goods outside of bristol ie transport costs, journey time, to save a couple of pence on a tin of beans.
Finally because the tax is in all transactions involving money, the % in tax would he relatively small, especially when you think of the vast amount of money that is turned over on a daily basis, so I think what with the promise of an unconditional basic income, its more likely people will want to move to and spend in bristol rather than the other way round.
I would like to acknowledge as well that any system is just that, a system, it can't in and of itself solve any problem, the problem but also the solution is human nature. Greed being the biggest problem, but I also believe that whereas we all have the capacity for greed, we also have as much potential for the opposite, generosity and compassion.
Ok said quite enough and ready for the onslaught.
Tin hat on ;-)