22 Mar 2012

A long version in French

I've now posted a complete french version of my talk on the 0-0-0-0.x plan on YouTube. You can find all the videos here,  or you can load the four different parts directly from here.

Here's Part 1
Here's Part 2
Here's Part 3
And here's the final Part 4
It's pretty much the same content as the English version I posted at the weekend, with the addition of a bit about who would gain from such a system. The answer is essentially everyone. For example, if the rate was 0.3% (which is my best bet for the rate needed to replace conventional taxes in France) someone earning €2000 a month, and who spends all their income would pay just €6 (0.3%) in tax per month.  Sounds like a good deal to me.

I also corrected an error in the original English version. When talking about the revenue that would be generated if the 2% "tax" applied by banks to credit card payments involving a foreign currency was applied to the $1200 trillion of foreign exchange handled by CLS Bank, I miscalculated. It would not generate $2.4 trillion in tax revenue. The real value is of course $24 trillion. That would be enough to abolish all taxes throughout the entire world.

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