User:Kmarinas86/FinanceRevolution

Summary
The Finance Revolution is my agenda is to simplify all financial transactions with perfect security. It is also a superior alternative to a National ID card.

Security
The key is that who ever slides the card can only manipulate their own account, and no one elses.

There will be implant in everyones right or left hand (the one they use for swiping cards) in which lies passive information that cannot be altered. The only information it contains is the ID number of your account. The information can only be revealed to the card in the hand under the influence of strong field located inside a scanning device. The scanner then feeds the information into a system which links to a database and adjusts the values for the accounts. The card may be shared but only the account corresponding to the ID in the right hand which swipes the card will be charged. This provides perfect security, lest someone steals a person and forces their hand to swipe the card without breaking it.

Accounting
Conventional accounting is not assumed here, since I am currently a layman, my ideas and agenda will be different than tradition.

The simplicity of the system is this.

A novel accounting identity, which only applies for systems involved in the "Finance Revolution" is this:

Value of all taxes = Value of all tax credits

Explanation
A percentage of all insertions of funds into "Finance Revolution" banks will be redistributed among "Finance Revolution" account holders. The money to be redistributed will go directly to well-achieved public health and safety providers' "Finance Revolution" accounts, and not to the accounts for those eligible for Social Security. This will reduce the amount these providers will have to charge when they render their service or obligation to others. It will be to the providers' discretion, and not third party administration (like government or insurance companies), as to whether the recipent of a service deserves a discount. Those who hold "Finance Revolution" accounts are to be exempt from income taxation. Everyone is encouraged to use the simpler system.

Any fines can be managed by simply transferring funds from one account to the account of the police officer or other who gave the fine with a percentage being transferred again to the rest of the public service and safety workers having "Finance Revolution" accounts. The goal is to eliminate the administrative burden of filing taxes. Taxation is one way and hierarchal. Those higher in the hierarchy will recieve the "taxes" of the lower hierarchy as "tax credits". These two labels are not exclusive and are given merely to reflect the function of both ends of the transaction. In this sense, one's income may be all tax credits.

Loans
"Finance Revolution" account holders will be able loan money from "Finance Revolution" bankers. The cost for this is not a interest in the usual sense (a percentage of the principal), but rather it consists of increasing the tax rate on their current source of income. The difference will go to the employees of the "Finance Revolution" bank. The increase in the tax rate will provide revenue for the bank as long as the account holder recieves income. The principal may be paid by transferring it from the loaner's "Finance Revolution" account to the lender(s)' "Finance Revolution" account(s).

The rights to larger loans must be attained in a step-wise fashion. Smaller loans are first lent to see if the customer can make use of the money on a small scale. The limit of the size of the loan will increase progressively by the amount of the loans which have been paid by the user in any "Finance Revolution" account. More than one loan is allowed as long as each loan is within the limit, however the additional rate of tax on income (i.e. on credits to a "Finance Revolution" debit account) would increase from the default added rate by a factor proportional to the number of loans.

Discussions
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