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If a government merely taxes really high, either directly or through money printing, it merely does things in the positive sense. You can still improve your lot

If a government merely taxes really high, either directly or through money printing, it merely does things in the positive sense. You can still improve your lot, it's just harder than it normally would be. You can even still become rich. In a true command economy absolutely everything is determined by the government's "no", to everything. And the disappointing BIG main reason for "no" is because no bureaucrat is ever going to risk his/her position for either your fate, or your idea. Money printing does not come with any "no". In a capitalist, even highly taxed and money printing economy, whatever you want to do, if you can do it while being sufficiently positive for the economy, you are allowed to do it (within reason). In a true command economy, you can do nothing. You can't change jobs. You can't move. You can't start a business. You can't educate yourself. You can't help anyone with anything (even trivial things are a risk). You can't ... EVERYTHING is determined by the absolute contempt and incredible jealousy of everyone. You literally carry an old ladies' bag up a staircase ... you've just made enemies of every old lady on the block, one of which has a son who runs the town's transport department and you lose your driver's license. There are a lot of ex-Soviets running around everywhere. Find one and talk to them.

manfredo 8y ago
Money printing is in effect a regressive tax. Inflation is effectively a flat tax, it wipes out X% of people's savings regardless of whether they are in the bottom 10% of the income distribution or to 10%. In fact, it might even behave like an inverse tax, since the wealthy will be the first to move their savings out of dollars while most everyday people will be stuck with their savings becoming worthless. > There are a lot of ex-Soviets running around everywhere. Find one and talk to them. I have spoken to many people who used to be in state run economies (USSR, Cuba). Effectively all of them are skeptical of schemes like MMT that function to give the government more power without public knowledge or consent.

manfredo 8y ago

Money printing is in effect a regressive tax. Inflation is effectively a flat tax, it wipes out X% of people's savings regardless of whether they are in the bottom 10% of the income distribution or to 10%. In fact, it might even behave like an inverse tax, since the wealthy will be the first to move their savings out of dollars while most everyday people will be stuck with their savings becoming worthless. > There are a lot of ex-Soviets running around everywhere. Find one and talk to them. I have spoken to many people who used to be in state run economies (USSR, Cuba). Effectively all of them are skeptical of schemes like MMT that function to give the government more power without public knowledge or consent.