So it's voluntary taxes for "investors?" Maybe the feds can try this to increase Bezos, Musk et al effective rate.
if miners do not profit from their purchase of stx then they will cease to participate in the network. If they profit, then it wouldn't be a tax. The beauty is that is it self regulating. Ultimately the people will determine the value of Miami coin. Maybe it will go to zero as a failed experiment.
Or, it could gain traction. Annualized returns at current rates pay 20% of the entire cities' taxes. These are powerful ideas. There are many things residents and business owners could if they wanted to encourage use of the local currency. Discounts, entry to special events, etc. The city of Miami could establish a premium beach district that used Miami coin for entry. Options are endless.
I am not convinced this will work, but I love the innovation and community focus.