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If debt doesn't matter, then why do any of us pay any tax? We can just replace all taxes with more debt.
by ThunderSizzle 4y ago
If debt doesn't matter, then why do any of us pay any tax? We can just replace all taxes with more debt.
- toomuchtodo 4y agoTaxes and debt, while on the surface appearing to be similar obligations, have drastically different recourse options and enforcement mechanisms. Debt creates money, and if you subscribe to modern monetary theory, taxes destroy money.