maybe 2.5% Zakat helps offset the 2.5% inflation in gold, ever think about riba that way?
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Now imagine what happens on a fixed supply money 😏
I never have thought about that, but a Muslim once told me that if every Muslim would simply pay their 2.5% Zakat, it could eliminate all of the poverty in the world.
Someone said the same about only rich 1% paying their taxes.
¿Como?
Looking forward to the days of abundance for all 🍇
I see it more from a place of how it directs systemic behavior than pure numbers as it’s not quite a wealth tax but more of a current assets contribution… my estimation is it would take a 100-200 years to compound and it would indeed eliminate poverty
Zakat is applicable on current assets exceeding the value of ~87g of gold