Q: Why does taxation exist if governments can just print money?
A: Because: i) taxes are a historical reality from when money was still linked to gold, ii) taxes obfuscate the level of money supply expansion, iii) create the illusion that deficit spending is disproportionately being paid for by the wealthy (in higher tax brackets) when in reality asset price inflation means the already wealthy asset owners get richer.
What did I miss?
waytoosunny
npub1q4…jgpmp
2024-04-16 22:27:34
Author Public Key
npub1q4npt0dhjjnnxmtfxmhqfp3p2h3nmzquc0qqqtehd5408pup8lwqejgpmpPublished at
2024-04-16 22:27:34Event JSON
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"content": "Q: Why does taxation exist if governments can just print money?\n\nA: Because: i) taxes are a historical reality from when money was still linked to gold, ii) taxes obfuscate the level of money supply expansion, iii) create the illusion that deficit spending is disproportionately being paid for by the wealthy (in higher tax brackets) when in reality asset price inflation means the already wealthy asset owners get richer.\n\nWhat did I miss?",
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