Leo's brow furrowed. "Are you saying that there are no US Dollars in our closed loop, but the Federal Government wants to take US Dollars out of it?"
"Exactly," Arthur said with a nod. "And if our Industry Alliance Trust acts as the intermediary for these transactions, under federal law, the trust itself could be defined as a barter exchange. We would be required to file Form 1099-B with the National Taxation Bureau, listing the total value of assets each member received through these vouchers."
"If we don't file, that's collective tax evasion. The FBI and the National Taxation Bureau would freeze the trust account and arrest all of us the very next day. But if we do file, how are the companies holding nothing but vouchers supposed to pay their federal corporate income tax?"
"That's why the vouchers are only part of the solution," Arthur said. "When the city government pays its bills, it can't use only vouchers. We have to pay at least 60% in US Dollars."
"Why 60%?" Leo asked.
