Ideas from Vasanth!

Currently, the payer is the one who pays tax at source and the receiver has a privilege to evade tax in most cases. This encourages corruption, thus leading to lesser tax revenue for the Government. What if banks deduct tax at the destination, that is at the receiver's end? Let us discuss the benefits of it below. A simple global software change in all banks can facilitate this without a big hassle. The concept of Income Tax can be eliminated. Governments don't need Income Tax Department anymore because banks take care of tax deduction for every transaction at the receiver's end. When someone transfers a huge amount of black money to one's account abroad, then tax is deducted by the foreign bank. This will discourage money laundering and corruption. Since many people will be paying tax through the bank, the tax rate can be reduced drastically to benefit the common man. People will be encouraged to pay third-party electronically for ensuring payment of tax at the seller...

Let me share my views on what are the benefits of a weak dollar below: The purchasing power of Poor Nations will improve drastically and help them feed their citizens in a decent way. The US can export more stuff to other countries causing it to create more employment opportunities for Americans locally. This will make America Great Again and also put a check on Nations that want to overpower the US. When China and India can keep their currencies lower in the market for encouraging exports to the US, then why not the US follow the same path? The US market will not be exploited by Nations that dump products and services into the US in greed for dollars. Good for Americans and their Businesses. Immigration problems in the US will come down drastically and stop brain-drain from Emerging Markets. This will help Developing Nations like India to retain talent with salaries on par with their counterparts in the US and encourage them to develop India. The tourism sector in the US will flourish...