Description

Links: 

Demo - https://portofrontend.vercel.app/

Frontend Repo - https://portofrontend-on30eonds-vmlvaske.vercel.app/

Backend Repo - https://github.com/VMLVaske/TokenTax_EthPorto/

Contract on Mantle: https://explorer.testnet.mantle.xyz/address/0x51f9864730830ADDB98C740571762Bf69C3e4511


TokenTax is a thought experiment that accompanies me for several years by now :) 

Essentially it's situated in a world where fiat money does not exist (anymore) and governments are maintaining miners themselves, in order to guarantee a certain level of network security and decentralization. 

In such a scenario, you could change the tax system that we have now and basically upgrade it to Tax3.0 

Doing this would allow us to get rid of politicians and political parties (to some degree at least) :> 

The way I understand taxes is as follows: 

  • I earn money
  • Some percentage of my income I pay as a tax
  • This tax money goes towards the community around me specifically and towards my country in general
    • this is, of course, good and fair and beneficial to the whole society


BUT: 

  • it's hard figuring out how much taxes I have to pay at the end of the year

AND: 

  • I, as an individual, have essentially very little say in how my tax money is spend once I give it to the government


And this is where the idea of TokenTax comes into existence: 

Remember that in this scenario miners are government entities? For TokenTax, miners would not be individuals that run their node with a privately owned account. But instead, the gas fees from mining would be received in a smart contract that stores where the money comes from and how much money was sent by this individual address. 

This way, when I want to "do my taxes" by the end of the year, I can connect to the TokenTax Frontend and check with the Smart Contract how much of my gas fees/taxes are still needed to be "governd" under my specific address. 

Let's say I accumulated 0.05 Eth in Gas Fees through my transaction over the year. Of that, a small percentage should stay with the miner so that they can be maintained and supported. The rest can be sent directly to projects and initiatives around me that I deem worthy of receiving my tax money. 


Since the whole political system in our current world is basically dependent on "make voters vote for politicians -> give Politicians Money + Power to decide stuff",  giving the citizens the options of 'voting with their taxes' would essentially make Politicians obsolete. 


:) 


That is all ^^

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