You make some good points about the impracticality of using e-gold for
a taxpaying business because of the difficulty of figuring out the
tax consequences of so much exchange/trading activity.
> It doesn't matter how much money is in e-gold, it will never be "real"
> currency until it is recognized as such by governments.
But I am not sure what you mean by government "recognition" or why
that would improve the situation.
Historically, currency in the United States all used to be privately
issued. The reason this is no longer the case is that around the
time of the Civil War a circulation tax (of 10%, if my recollection
serves me right) was enacted for the purpose of driving the private
issues out of circulation. [I think this was done as part of Lincoln's
Civil War income tax (which was later declared unconstitutional once
Lincoln let the Supreme Court justices out of prison).] The last
time I checked (which admitedly was 35 years ago) this circulation
tax was still on the books. So government "recognition" might only
mean being subject to this tax.
In any case government "recognition" would, one way or the other, mean
government control that would remove all reasons to use it.
> Now offshore companies that are tax free, and individuals and
> companies that have no compunction about defying tax laws can
> use e-gold without too much trouble, but I can't see it being
> useful for everyday commerce.
That's good enough for me.
CCS
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