The government believes that we owe a tax on every transaction. If you buy a bunch of old tools at a garage sale or you sell the extra produce from your garden you should be taxed on that transaction. There have been several proposals to add a underground economy participation tax across the board. The last one I’m aware of would have added $600 to everybody’s tax bill. It was defeated.
By doing away with cash every transaction you make can be tracked and taxed.
Separately but related there was an article recently on FR about a county that was buying transaction data from credit card companies and sending a bill to people who had bought pet food but hadn’t paid the county pet tax.
It’s all about control and control is about squeezing money out of new sources. The old ones have pretty much dried up.
Here in NJ cash is probably growing in popularity; the Americans are fleeing, and what is left is mostly a welfare economy and illegals. Cash will be king as long as this continues.
The county should be told "I'm eating that pet food due to the obama economy."
That also applies to crooks and corrupt politicians. Well that will be a selling point but I suspect the politicians will have a way around it, or they won't pass it.