A study from the University of Georgia determined that Americans would be better off if we just got rid of cash altogether. And if we did so, certain taxes would have to be lowered or even eliminated. According to the research, if America gets rid of paper currency, the IRS would have to lower or even get rid of some taxes because there would be less tax evasion. Basically, cash can be exchanged between people without the government finding out. The same isn’t true for credit/debit cards and online transfers.