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Answering to one of replies. > Federal "revenue" is a mistaken concept. The federal government just deletes money via taxation in order to offset the created m
by avmich 10y ago
Answering to one of replies.
> Federal "revenue" is a mistaken concept. The federal government just deletes money via taxation in order to offset the created money from spending. The government doesn't need or have any dollars, they are the source of the fiat currency in itself.
Does it mean that taxation in USA works differently than taxation in a country with currency tied to US dollar by a fixed exchange rate? In that country government can't, I assume, so easily print money and delete them.
- quadrangle 10y agoreplied in other thread https://news.ycombinator.com/item?id=13992751 https://news.ycombinator.com/item?id=13992751 but YES, different