Off The Editor’s Desk – 2-19-2020
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Can you vision yourself without any cash in your pocket?
Can you see yourself and the rest your fellow citizens going about your daily routine without any cash available for spending money?
Right now you have cash in your pocket and may at least have one credit or debt card that allows you to do your daily living. I have seen people using the card to make small purchases like a pop and a candy bar. But for me, I like cash to pay for those small things and even bigger items.
But, I have been led to believe that about the fourth week in March of this year, some government officials who are left over from the Obama administration will meet somewhere in the United States and come out with a recommendation that the United States stop printing the One Hundred dollar bill and the Fifty dollar bill. According to an article that I recent read, this may be the first step in doing away with any type of hard currency or loose change in your pocket.
In the future it may be illegal to have cash, so if you go to a garage sale in your neighborhood and buy something for lets say twenty dollars and hand that $20 bill over to buy that small item, you may have broken the law. Why is the government even being concerned over that?
Well, if you hand your neighbor that twenty, only you and him are aware of that transaction. But if you can’t use cash, and have to pay with a credit card or other electronic means, that is trackable and taxable and the seller of that item at the garage sale will have to pay tax on the sale. But he sold you an item for twenty that he paid one hundred for a couple of years back, so what a bookkeeping nightmare that will become for anyone that has something for sale.
At present, banks are required by the federal government to report any large cash withdrawals or large cash deposits. So if you have a large cash winning at the casino or withdraw funds from your savings or retirement accounts in cash, so you have money for the trip your family is planning, the government will know about it.
Another scary thing about carrying large amounts of cash, besides some one stealing it, is that if you are stopped by a police office for a traffic violation, and he or she notices that you have an envelope with cash in it stickling out of your shirt pocket, it may alert them that you may be a drug dealer and they will search your vehicle, and probably a county judge will issue a search warrant for your home and/or business and you will become a target to be watched.
I like cash in my pocket and I can’t think of not having a little change to buy a cup of coffee for a dollar or four bucks for a can of beer at a local establishment, without having to allow the bartender to swipe a card or other electronic devise and having him, pay a five percent fee to the credit card company.
Besides, it’s hard to get any personal information off a dollar bill, or a hundred dollar bill as a mater of fact.
Thanks for reading! ~Carlton