Linden Tax and a Linden Central Bank

To stimulate the SL economy I think the Lindens should create a tax, 1$L per transaction would probably do. The money earned from this tax could then be used to create a much needed Linden Central Bank. This bank could then be used as the backbone of a regulated banking system much like the U.S. Federal Reserve. To come up with a system of regulations, LL could hire 1 economist or even grab a couple post-grad economics majors as interns. There are already numerous "banks" active in SL and I'm sure many of them would quickly conform to any regulations put in place for the backing of a centralized bank (not to mention the added legitimacy). Go back and study your economics if you don't remember how money is created.

Also, a Linden regulated stock exchange would do wonders.

Ok, how is taxing transactions going to stimulate the economy? You must be a liberal or something. Also, why does one need a bank? My account is as secure as any bank, (even LL states as much), so what would be the point? Investment? No thanks, I'll cash out my money into USD, and invest it in more conventional ways.

Who would maintain such a system. LL has pretty much decided they don't want to get involved in such details. And after Ginko and several other scams, I think that road has been travelled already. I don't need to see any sales tax. My $9.95 a month is tribute enough to The Providers.

There used to be taxes for pretty much everything, prim tax, height tax, teleport tax, light tax, glow tax, land tax. I'm glad they changed it.

http://oz.slinked.net/history/Detailed_Reference.pdf < See pages 74-77 for how SL's taxes used to work.

tax for rezzing, tax for this that everything.its failed.

Are you kidding? How would a tax stimulate the economy? It's not as if it is used to pay for services that benefit everyone. And as for those "banks," they should just be banned outright as they are just another failure story waiting to happen, and people get mad because they lost thousands and thousands of L.

Hmm, I proposed a while back a very small tax on profits made each day, but it was intended as a method of bringing back a dwell style system to support free places (which are becoming rare).
Something in the region of 0.1% of profit in a given day would impact businesses very little, but would create a huge L$ sink to counteract the L$ created by stipends.

I don't see that it would have a huge impact on the economy, and I don't think a bank is needed. LL already act as a form of regulatory body by supplying land, which is the main influence on L$ value.

Better hire an economist yourself. Taxes never "stimulate the economy". A tax is always a burden on the economy. Always.

And how would depositing money in a "Central Linden Bank" be different from where it is right now, in my $L and $US balances? In effect, we already HAVE a central bank.

The one thing I'd agree with you on is regulation of SL "banks" and "stock exchanges". Such organizations do facilitate economic transactions, commerce, and development in any RL economy. They could do so in SL as well, except that at present, none of them are trustworthy. Even if one were, there is no recourse for its depositors if something should happen.

With the present setup, no one should invest a single linden in any SL "bank" or "stock exchange". They are nothing more than someone who is calling themselves a bank or an exchange, and they could (and have!) vanish overnight, taking your money with them.

The concept of banks and exchanges is good...but to work, they require accountability and some means of assuring investors of their honesty and safety.

Taxes do not..repeat DO NOT stimulate an economy. By their verynature, they do quite the opposite.

Hmmm..... I pay taxes to supposedly support various Goverment programs...... with variying success (Soc.Security, Medicare, State, Federal, etc)

So by paying a "tax" on any L$ transactions, I'd expect that this would somehow stimulate Linden Lab to do.... what?

They already collect REAL $$ from me. Why should "imaginary" money make a difference?

As for Banks...... My account is QUITE secure, thank you much. Besides, RL banks are backed by someone else, have various rules that folks find quite annoying.

So far, you're 0 for 0 on support for this issue.

They already did the V.A.T. tax on the eruopians....
Look what happened to the Economy.

I Vote no...