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Printing money would indeed no longer be an option for governments. But their main source of income are taxes. And why would taxes change? >and if the governm

• andrewla 9y ago
  Main source of income is taxes, but it got close there -- in 2009 the federal deficit got up to 1.413 trillion, which made debt a larger source of income for the government than income taxes and corporate taxes combined. Even without emergency spending like that, the gradual deficit increases are going to mean that soon receipts will not be sufficient to cover interest on the debt. My point about "coming to your door" was not bitcoins vs. dollars, but taxes vs. FOMC. If the government really wants to give away the value equivalent of trillions of dollars, they have to get the money from increasing receipts, rather than just monetizing debt. They can take on debt, but they have to pay for it, rather than use accounting tricks to borrow at zero interest to support zero interest "loans". That said, you're probably right; no effective political action is going to be taken in opposition to tax levies, especially if they're aimed at the "1%" -- by the time the 1% becomes the 30% (vis a vis AMT) people will have forgotten why they cared.