Can anyone provide evidence to support this statement? If the US Treasury does not use taxes collected to pay any of the expenses of the US Federal Government, that means that they destroy that money when it comes into their control, in whatever form it comes in (paper, checks, electronic transfer, etc). I'm willing to beieve a statement like this, but I really want to see the evidence behind it because I don't believe it is true.
The Treasury does not collect enough taxes to pay the expenses of the Federal Government. That's why we have deficits. But the money that the Treasury does collect is transferred to accounts that are then directed by Congress based on legislation that is passed and by the Executive branch to pay the expenses of government. We can agree or disagree with what is being paid for, but the actual mechanism of what happens to the dollars that get paid in taxes is something we really need to get a handle on so we can stop fighting about it.
So, does anyone have EVIDENCE that taxes paid into the Treasury are destroyed? I'm serious.
chadlupkes / Chad Lupkes
npub1mu…wcnel
2024-02-23 19:57:59
in reply to nevent1q…d2pe
Author Public Key
npub1murdy8k20svu38g9f9jt9k0rqkjzt677x3qrev88je4gw2erqk8scwcnelPublished at
2024-02-23 19:57:59Event JSON
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"content": "Can anyone provide evidence to support this statement? If the US Treasury does not use taxes collected to pay any of the expenses of the US Federal Government, that means that they destroy that money when it comes into their control, in whatever form it comes in (paper, checks, electronic transfer, etc). I'm willing to beieve a statement like this, but I really want to see the evidence behind it because I don't believe it is true.\nThe Treasury does not collect enough taxes to pay the expenses of the Federal Government. That's why we have deficits. But the money that the Treasury does collect is transferred to accounts that are then directed by Congress based on legislation that is passed and by the Executive branch to pay the expenses of government. We can agree or disagree with what is being paid for, but the actual mechanism of what happens to the dollars that get paid in taxes is something we really need to get a handle on so we can stop fighting about it.\nSo, does anyone have EVIDENCE that taxes paid into the Treasury are destroyed? I'm serious.",
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