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The important point in my above post is "reinvest the profit" By doing so it acts as a continual no-interest loan. Which saves the Government on the interest
by TomOfTTB 16y ago
The important point in my above post is "reinvest the profit"
By doing so it acts as a continual no-interest loan. Which saves the Government on the interest they'd have to pay if they borrowed from someone seeking profit.
(The easiest way to do this would just be to destroy them once you buy them so they could never be cashed out. It would still be listed as debt on the balance sheet but it would be debt that would never need to be repaid)
- zdw 16y agoAssuming there's a record of them somewhere, they're still an outstanding debt. Imagine if the millionaire in question were to die and pass on property - these would be included unless extremely poor records were kept, which I doubt would happen in this modern age. Far better would be just to donate the money directly to the federal government, or to purchase property and donate it - in the past people have purchased land and donated it as nature preserves, etc... taking it out of circulation and, if popular, providing income if it becomes a popular destination or develops halo industries. For example, donate a lake = money made on fishing licenses, and taxes on sale of fishing gear.