4 ms·

Don't taxes exist?

• pessimizer 4y ago
  The money from taxes is burned, not spent. The government doesn't need your money any more than I need the paper I wrote an IOU to you on. The government taxes to control inflation and to intentionally change the relative cost of different activities in order to encourage or discourage them.
  • Jensson 4y ago
    That is unique to the US, normally the central bank prints money and the government can't just print whatever they want. Giving money presses directly to the people who try to win elections isn't a good idea, only reason USA can get away with it is because their currency is the world currency at the moment.
    • etchalon 4y ago
      The US Federal Reserve "prints money" in the US, and is insulated, as best as possible, from immediate partisan influence. Obviously, our elected leaders can influence the decisions of the Fed by appealing their case, but they lack a legal mechanism to make the Federal Reserve "print money". They do, however, have the authority to incur "debt" through spending. Which … is basically printing money. But this is true for any system which does not have legal guidelines which constrain spending to revenue capture. Which is a good deal more than "just the US".
  • seiferteric 4y ago
    > The money from taxes is burned, not spent. > The government taxes to control inflation You say these things like they art not related. Obviously taking money out of the system controls inflation. We could eliminate tax entirely and simply print money to pay for everything, but that would likely lead to runaway inflation.
    • etchalon 4y ago
      I believe they were saying those things as if they are specifically related.