>Meanwhile, in China, whenever the government needs some money they just print it up at the PBOC and hand it out, usually to bail out bad debts to state owned e

>Meanwhile, in China, whenever the government needs some money they just print it up at the PBOC and hand it out, usually to bail out bad debts to state owned enterprises, but at least they aren't sticking it to the taxpayer like we are. And when PBOC prints up that money to bail out state owned enterprises it devalues existing currency by the same amount. Inflation by this manner is functionally indistinguishable to a tax.