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Taxes prop up a fiat currency, which by definition is generated out of thin air. Govt does not need taxes to pay for the aforementioned things you mentioned, it
by noipv4 12y ago
Taxes prop up a fiat currency, which by definition is generated out of thin air. Govt does not need taxes to pay for the aforementioned things you mentioned, it can simply generate the required money.
- smtddr 12y ago>>Govt does not need taxes to pay for the aforementioned things you mentioned, it can simply generate the required money. I'm going to need some kind of 1st-world example society, or even a hypothetical construct, where all the things mentioned in the comment you replied to is somehow taken care of without taxes. If Obama decided to pass a law that nobody needs to do taxes anymore... what would he need to do to keep things running?
- ommunist 12y agoIn this hypothetical situation he shall sell more govt bonds to US Federal Reserve and they will create new money. How else the US can pay for all the wars it wages?
- noipv4 12y agohttp://moslereconomics.com/wp-content/powerpoints/7DIF.pdf http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf Check out #1, Pg 13.