How are taxes affected by systemaccounting?

A:

Systemaccounting enables its users to automate the fulfillment of their promises between one another. Whether the promise is to issue an interest payment, pay a dividend, process payroll, or pay a tax, the fulfillment of all such promises may be easily automated through systemaccounting. For example, assume a pastry shop owner in Los Angeles sells a half dozen cupcakes for $7.07, tax included. If the pastry shop owner uses systemaccounting, then they may define a rule that says, "Whenever a revenue transaction is created between a customer and the pastry shop, automatically create another 8.75% of revenue transaction between the pastry shop and the California Board of Equalization." A customer arrives, orders a half dozen cupcakes, then uses systemaccounting to pay the pastry shop $7.07. As the $7.07 transaction is completed, a secondary transaction is created between the shop and the California Board of Equalization for $0.57. The tax is promptly paid, and the owner is left to focus on their business instead of complex tax obligations.

City, state, and federal officials will also appreciate the tremendous efficiency gained by using systemaccounting. Ourfiscalsecurity.org (now expired) published an article in 2011 estimating the federal government loses approximately $310 billion every year to tax evasion. Saving the federal government from losing $3 trillion over 10 years while boosting economic activity is possible through technology; not politics. The data-driven republic that emerges from paying taxes expediently through a publicly accessible accounting system will enable voters to easily distinguish between the policy-makers who depend on accountability from those who depend on its absence.

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