I don't know if any industry would "collapse" exactly. Most could adapt. Even banks do disclose in the contract that it's not actually your money. They just use obscure jargon to say it.
Politics would descend into outright violence, as we're already seeing. Because it ultimately is gangs competing over territory to either extort peaceful industries or protect them from extortion. Deception is what keeps the peace by persuading the victims of taxation to comply. If we're honest about the nature of the game then there's nothing to debate.
I don't know if any industry would "collapse" exactly. Most could adapt. Even banks do disclose in the contract that it's not actually your money. They just use obscure jargon to say it.
Politics would descend into outright violence, as we're already seeing. Because it ultimately is gangs competing over territory to either extort peaceful industries or protect them from extortion. Deception is what keeps the peace by persuading the victims of taxation to comply. If we're honest about the nature of the game then there's nothing to debate.
Social media would take a big loss in revenue.