Background: Negative interest rates on cash reserves / /ManifoldMarkets/will-manifold-implement-demurrage

Taxing uninvested cash balances on Manifold is an idea we've considered before. It would help cut back on Mudflation (a bigger problem post WvM), prop up the value of mana, encourage people to particapate more (especially in long-term markets), and distort the manaconomy far less than intra-market transaction fees. It's also just fun to test weird economic ideas!

The main reason to not do this is that users hate seeing their money disappear. But our Loans feature combats this problem substantially by generating daily cash flow.

One way this could work is that each day prior to Loans being issued, users are taxed at 0.5% of cash holdings higher than Ṁ500. They then receive their usual loan amount of 2% of the value of their current portfolio. This ensures that active users will nearly always have cash on hand to trade with.

This market resolves YES if Manifold makes an announcement for (or directly implements) a tax on uninvested cash any time before the start of May 13th. You can influence this market by participating in the poll or making your case below.