Comment Re:Bitcoin to revolutionise economy (Score 2) 642
It follows that when an economy becomes so degraded (or in the case of Zimbabwe when the government so degrades the economy) that there is no longer anything to tax, the currency the government issues will become worthless.
Or enough people start using the black market and a black market currency to do almost all of their trading instead. In most countries, it is more expensive to use the black market and risk the punishments for tax evasion than to simply pay the tax, but there is a level where it become more economically smart to use the black market and risk getting caught than to pay the onerous taxes.