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Very Good Point of the Day


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2022 Sep 27, 3:11pm   466 views  19 comments

by Tenpoundbass   ➕follow (7)   💰tip ($0.12 in tips)  

Why raise/have Taxes if they can just print money?



Comments 1 - 19 of 19   

1   Tenpoundbass   2022 Sep 27, 3:14pm  

Instead of charging taxes, couldn't a government just shave some off the top every time money is printed based on the GDP numbers?
The tax could be realized in inflation or any offset caused by the GDP skimming.
2   PeopleUnited   2022 Sep 27, 5:13pm  

That is the same thing the MMT crowd says. MMT = modern monetary theory
3   mell   2022 Sep 27, 5:20pm  

They can, but it would hurt the middle and lower class most, due to rising prices and fewer owned inflated assets by those classes. A temporary wealth tax to balance the budget (with guarantees) is better imo.
4   EBGuy   2022 Sep 27, 5:56pm  

PeopleUnited says

That is the same thing the MMT crowd says. MMT = modern monetary theory

Agreed. MMT says: Deficits don't matter.
Until they do.
5   Robber Baron Elite Scum   2022 Sep 27, 6:12pm  

Taxes pays the debt of money printed out of thin air which is printed by the federal reserve private bank which lends worthless notes to the government.

You cant pay taxes on money created out of thin air...

So they keep printing money until it becomes worthless.

Cars and homes did not go up in value.

This is simply both inflation and scarcity in the car market.
6   NuttBoxer   2022 Sep 28, 10:36am  

None of these explanations are correct. Printing is a tax, the highest tax we pay. Don't believe me, look at the value our paper money has lost since 1913. "Taxes" are a scam to make us think that's where the money comes from that runs things, taxes can't even pay the interest on the debt anymore, not by a long shot. It's a classic distraction tactic.
7   NuttBoxer   2022 Sep 28, 10:41am  

mell says

They can, but it would hurt the middle and lower class most, due to rising prices and fewer owned inflated assets by those classes.


They are. The printed money is distributed through various money-laundering mechanisms to those running the system. They are the only ones who can stay ahead of inflation, and buy up assets for pennies on the dollar. End result if they could prevent an implosion(they can't), would be they own everything, we own nothing. Not lower, not middle, all classes drop to zero, except them.

mell says

A temporary wealth tax to balance the budget (with guarantees) is better imo.


When has this ever worked? Not just here, but anywhere and any time in history? Don't get fooled comrade.
8   mell   2022 Sep 28, 12:23pm  

NuttBoxer says


mell says


They can, but it would hurt the middle and lower class most, due to rising prices and fewer owned inflated assets by those classes.


They are. The printed money is distributed through various money-laundering mechanisms to those running the system. They are the only ones who can stay ahead of inflation, and buy up assets for pennies on the dollar. End result if they could prevent an implosion(they can't), would be they own everything, we own nothing. Not lower, not middle, all classes drop to zero, except them.

mell says


A temporary wealth tax to balance the budget (with guarantees) is better imo.


When has this ever worked? Not just here, but anywhere and any time in history? Don't get fooled comrade.


Wealth tax works if it's tied to a balanced budget and temporary. It has worked plenty of times as long as the rules are clear and the reversal is codified. You already have many wealth taxes today but they are permanent which is wrong. If the system becomes too imbalanced you need to use such a tool to avoid total immobility and potentially civil war. Nothing to do with communism. Better than fake philanthropy as long as it's temporary and as simple as a flat income tax. The reason that the government has been abusing temporary measures by making them permanent has nothing to do with the measure itself, it has to do with the abolishing the rule of law which is the real issue here and today.
9   NuttBoxer   2022 Sep 28, 3:24pm  

mell says

Nothing to do with communism.


But you want to take money that you didn't earn, and "re-distribute" it by force right?
10   Hircus   2022 Sep 28, 4:33pm  

One benefit to low numerical inflation is it makes it much easier for people to judge the price of things. Ideally, if a loaf of bread cost $3 today, it would be ideal if the number is the same or similar 10-20 years from now.

I think we would have MUCH higher numerical inflation if they just printed, opposed to paying taxes, even if people's real spending power was equal in either case.
11   BayArea   2022 Sep 29, 6:07am  

Why only print when you can also print?
12   mell   2022 Sep 29, 6:24am  

NuttBoxer says


mell says


Nothing to do with communism.


But you want to take money that you didn't earn, and "re-distribute" it by force right?


That is the definition of any tax. You have to run the country entirely taxless then. And even fees are only "fair" if they are proportional to usage. You already pay for police, firefighters, public hospitals, army, roads etc. A temporary wealth tax paired with a flat income tax and no capital gains taxes is something I'd like to see
instead if hampering your hard work to join the wealthy give a little back once you're wealthy enough.
13   Onvacation   2022 Sep 29, 6:40am  

mell says

give a little back once you're wealthy enough

How much is "wealthy enough"? Over 400k?
14   mell   2022 Sep 29, 6:56am  

Onvacation says


mell says


give a little back once you're wealthy enough

How much is "wealthy enough"? Over 400k?


probably not. Depends on how much things cost, these days I would say starting at 10 million at least. It will be difficult to ascertain peoples wealth, that's why many countries go with tangible stuff such as inheritance tax, or other taxes during wealth transfers. It's difficult to establish. Here's an idea - for those multi millionaires and billionaires who form large "philanthropic" trusts to avoid taxes, make those taxable when you need to balance the budget. Nobody said it's easy to hash out, but it's definitely much fairer to tax large wealth than inhibit people working hard trying to achieve financial independence at every step to keep them "poor" via income taxes, cap gains taxes, property taxes, etc. etc.
15   mell   2022 Sep 29, 7:10am  

No tax is fair and all taxes are redistribution and in the strictest sense "communism" for purists. The land value tax certainly is very interesting, but also difficult to assess. The more important point is that taxes should never be "indefinitely", always temporary, and if the budget is blown out by politicians misappropriating funds meant to balance it, they should go to jail. Rule of law is the main issue.
16   RWSGFY   2022 Sep 29, 9:50am  

Half of the country already doesn't pay a single red cent in FIT.
17   Patrick   2022 Oct 1, 12:13am  

But they do pay a higher percentage of their income in sales taxes than richer people do.
18   RWSGFY   2022 Oct 1, 8:49am  

Patrick says


But they do pay a higher percentage of their income in sales taxes than richer people do.


They get more direct govt services and handouts too: food stamps, Medicaid, housing assistance, child tax credit, earned income tax credit, etc.

And since sales tax is local nothing of that money goes into Federal gov't coffers.
19   Al_Sharpton_for_President   2022 Oct 1, 8:55am  

Why issue US Treasuries if they can just print money?

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