Re: Jump Start ecash With IPhone

[Duncan Frissell <frissell@panix.com>]

At 11:37 AM 3/6/96 -0800, Jim McCoy wrote:
>On another related note the IRS is getting somewhat concerned
>about the opportunities the Internet offers people to avoid taxes
>according to the Treasury department's international-tax counsel. The
>government will "maintain [tax] toll booths on the information superhighway."
>(WSJ, 3/6/96)

The note in the WSJ's regular Wednesday "Tax Report" column specified that
the IRS was most concerned about the possibility that electronic payment
systems could lead to "extensive transactions outside of normal banking
channels."

As well they might worry.  "When money is data, data switches are money
switches."

Talking about toll booths is easier than erecting them on a system built by
consensus.  I can see the ETF meeting when the Service presents its proposal.

And as for those who say that the ETF will be replaced by the 'Big Boys' now
that the Net is a hot item, I say so what.  We can have our own net running
on any infrastructure.  What counts is how many hosts run the protocols not
who wrote the protocols.  

And how successful will the Service be in convincing lots of hosts to run
its new and improved Simple Tax Collection Protocol (STCP)?

DCF