A Way To Eliminate Payrolls

[JimRed]

More Star Trek proposed for real life!

[Conspiracy Guy]

Me Me I want to be there. I'll bring beer!

[Conspiracy Guy]

I'll call.

[Zavien Doombringer]

You do realize the FED is not a government agency...

[SlowBoat407]

Watch 'em! They'll rip your fingers off!

[Zavien Doombringer]

NO, the FED gives congress the money...He who has the money is in charge!

[MeekOneGOP]

[Zavien Doombringer]

By the way, It's congress that crawls to the FED and asks for the money, which creates a debt, in turn the income tax was implemented to pay it off...A very vicious cycle

[Conspiracy Guy]

Where is the skinny dog picture?

[Kate of Spice Island]

A gigglin' fartin' and snortin' kitty for you!

Enjoy!

[TheNightFly]

Wrong! Your employer wouldn't be giving you credit. They would only be providing you with deposits upon which you would be able to extend credit to others. In this case, it would be a necessity for you, not a super-normative benefit.

However, you would create income for everyone you extend credit to, including yourself. But, only after, not before. And only to the recipients of your credit, not you.

[Zavien Doombringer]

(as they manage all credit card transaction),

Hmmmm, you need a lesson on economics...

All the Fed does is monitor the flow of money into the market, give credit to the government in the form of bonds and print paper money. The Federal Government cannot print paper money, it is written in the constitution that the government can only stamp coin.

It's the banks job to monitor credt card transactions, which is reported to the FED for moey transfers...

Though the FED is powerful, it is limited.

[BJClinton]

[Zavien Doombringer]

Click the pick

Click the pic!

[smobey]

I'm disappointed here. This guy posts a very interesting idea. It may not be perfect and it may or may not work, but all he's getting is abuse and stupid pictures. What possible difference does a sign up date have to do with intelligence. I'm not seeing evidence of ripened intelligence from membership length displayed here, quite the opposite.

You would hope FR would be a place where an idea like this would be discussed with respect.

[SoothingDave]

Look at it from the employers point of view. The majority of you companies overhead consists of having to constantly "deposit" revenue into payroll. In contrast, you would only need to deposit a fixed sum of funds into your employees virtual bank. That takes care of them and eliminates your payroll.

Once my employer deposits a lump sum into my account, what's to ensure that I continue showing up to work?

SD

[Zavien Doombringer]

This idea is not new. The thought of an all credit society has been around for ages. Read Revelations, it's going to happen anyway. However, in order to get credit for your wages you need an ID, hmmm.... a social security number maybe? The technology is already in place, just getting ready for a population to agree to it. Possibly after rapture...1THES4:13

[Egon]

Wrong! The Federal Reserve answers to Congress.

Officially, yes.

Please point out the last time anything was suggested by Congress to the Federal Reserve, and the Fed actually followed up on it.

I submit that the opposite is actually true.

[Protagoras]

Goodbye

[Egon]

Hay, this idea is only intended to eliminate payrolls, not create business welfare.

I recognize that. I don't think it would effectively do that, though.

Payments by companies to workers would simply change their name, and congress would have to pass several new laws to bring the resulting remunerations back under the existing tax code.

...in my opinion.