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kindly point to the factual inaccuracy of my post. our current monetary policy is about controlling aggregate demand for dollars. this is not controversial.
by nazgulnarsil 18y ago
kindly point to the factual inaccuracy of my post. our current monetary policy is about controlling aggregate demand for dollars. this is not controversial.
- grandalf 18y agoHow does taxation keep aggregate demand for fiat dollars high? On the margin, people work for their after tax income. If taxes went away, employers would pay employees the same amount as their current after-tax income -- why would they pay more than necessary to provoke someone to work?
- nazgulnarsil 18y agobecause if there was no central demand for money denominated in us dollars people would be free to use all sorts of competing economic systems.
- grandalf 18y agoThat may be but you did not answer my question.
- nazgulnarsil 18y agoyour second question doesn't make sense to me.
- fatdog789 18y agoTaxation is about funding the government. It doesn't give a rat's ass about "controlling aggregate demand for dollars". Remember dude, EVERY CIVILIZATION HAS HAD TAXES. Rome had taxes. Ancient Mesopotamia had taxes. TAX PREDATE AMERICA. Tax predate fiat currency. Ergo, taxes are not about controlling the money supply.
- nazgulnarsil 18y agospecious reasoning. you're assuming that our current economic system is similar to other economic systems. our economy (bretton woods) is an massive experiment with no historical precedent.