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Can America replace cash with a credit card?
Cash is used to pay for illegal activities. If cash were eliminated the computers would have a record of every time money changed hands, that would make things difficult for criminals.
8 Answers
- Nuff SedLv 72 months ago
False dichotomy. There are more choices than cash or credit card. There are also checks and bartering. I know an accountant who would be paid by stock in trade from his merchant clients: butcher, baker, etc, rather than in cash.
- ?Lv 73 months ago
It would also make it easier for the government to have even more information on how citizens spend their money.
- ?Lv 63 months ago
And would also mean no more garage sales and farmers markets if there were no cash. I have been to a store before and their debit machine is down and were only taking cash.
What some countries have done to combat cash in illegal activities is to eliminate large denominations with $100 being the largest bill.
- ?Lv 73 months ago
It would eliminate many kinds, but the cleverest criminals would probably find a different way to launder money or pay for drugs, such as with Bit Coins. I'm in favor of a cashless economy, but I don't have utopian ideas about it.
- ?Lv 73 months ago
It would also mean the bank, the government and anyone that knows how to hack a system would also know exactly where, when, how, why and what you spent your money on.
Another bad thing is plastic doesn't feel like money, you spend more when you use plastic than you do when you actually see the Benjamins leaving your wallet,, corporations love that.
- Eugene DLv 63 months ago
If it was all digital, then the government can easily sieze your finances any time they want.
- Anonymous3 months ago
🥴
No.
Theyd just find another way around it as usual.