I wonder would it be legal in the euro zone to allow tax credits to be traded the way money is. Governments issue them without having to borrow and promise to accept them for the payment of taxes.
Explain to people that whatever’s kept in circulation is free money the Government doesn’t have to borrow or pay interest on as long as tax credits are not used to pay taxes. Your doing your bit for your country by keeping these in circulation but you can always pay your taxes with them. At the least you would be giving the government an interest free loan.
Companies that pay taxes in Ireland can take them at no risk. Hence firms that pay taxes in Ireland are supported. You probably couldn’t buy an iPhone with them as Apple don’t pay enough taxes in Ireland.
You’d need a banking system to store these. Lets make banks that take them the safest in the world to encourage their use. Put rules on banks they have to keep a high % reserve of deposits of these tax credits. The idea might catch on if there’s a super stable banking system there could be international demand for Irish tax credits. The collapse of the money side of a bank should not effect the tax credit side of the bank and vice versa. Tax credits loaned by the bank would initially be used to promote economic activity as I could see a plumber who pays taxes in Ireland being willing to accept them but they probably couldn’t be used to pay for a foreign holiday.
I fully expect to be torn apart for how idiotic impractical deluded ridiculous and illegal an idea this is.