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Runaway thought: Could all taxes be removed and replaced with the government simply printing money for its initiatives? Income tax is such that the rich are sup
by justfor1comment 8y ago
Runaway thought: Could all taxes be removed and replaced with the government simply printing money for its initiatives? Income tax is such that the rich are supposed to pay more than the poor but that does not happen in practice. The rich hire smart people to find loopholes and avoid taxes. Sales taxes are such that the government can dissuade people from harmful activities like smoking by levying heavy taxes on it. An alternative could be to print money for initiatives that the government wants to support like nicotine patches for example. The US government has already done something similar before with quantitive easing without much impact to the economy. So there is a possibility that this might work.