- Jul 29, 2001
- 39,398
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Seriously most of us know govt cant go broke. Don't believe me? Here is alan Greenspan.
”government cannot become insolvent with respect to obligations in its own currency. A fiat money system, like the ones we have today, can produce such claims without limit.”
Did you hear that? Without Limit!
We ran over 1T dollar deficits last 4 years to pay obligations, Fed ginned up trillions more to bail out wall street and even foreign banks. No problem. Why not gin up and/or borrow the 3+ trillion to run whole govt every year?
So my question is are taxes a primitive relic from when we didnt have a fiat system and limited money supply and do we need to get rid of Federal taxes?
Seems like a big waste in unproductive man hours with compliance and filings, trees, causes resentments, etc. Just scrap them.
”government cannot become insolvent with respect to obligations in its own currency. A fiat money system, like the ones we have today, can produce such claims without limit.”
Did you hear that? Without Limit!
We ran over 1T dollar deficits last 4 years to pay obligations, Fed ginned up trillions more to bail out wall street and even foreign banks. No problem. Why not gin up and/or borrow the 3+ trillion to run whole govt every year?
So my question is are taxes a primitive relic from when we didnt have a fiat system and limited money supply and do we need to get rid of Federal taxes?
Seems like a big waste in unproductive man hours with compliance and filings, trees, causes resentments, etc. Just scrap them.
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