CraigTheSpaceBum on Nostr: It blows normies brains when I explain how taxes work 😂. It's simple, every year ...
It blows normies brains when I explain how taxes work 😂.
It's simple, every year the government creates a budget for everything from schools, roads, hospitals, etc. They then go to the central bank, here in Canada, it would be the bank of Canada. The central bank or The Bank of Canada lends that money to the government with interest. Your tax dollar goes to pay back that loan from the central bank. If you don't pay your taxes, your going to contribute to creating inflation as your not taking those dollars out of circulation.
Problem is, government doesn't produce anything. The government has only 4 ways to pay back their loan.
1. They can borrow from another country
2. They can tax you (including tariffs)
3. They can straight up take your or another countries money and gold at gun point.
4. They can straight up just print money into existence.
As a humble debt collector, It all leads to #bitcoin
It's simple, every year the government creates a budget for everything from schools, roads, hospitals, etc. They then go to the central bank, here in Canada, it would be the bank of Canada. The central bank or The Bank of Canada lends that money to the government with interest. Your tax dollar goes to pay back that loan from the central bank. If you don't pay your taxes, your going to contribute to creating inflation as your not taking those dollars out of circulation.
Problem is, government doesn't produce anything. The government has only 4 ways to pay back their loan.
1. They can borrow from another country
2. They can tax you (including tariffs)
3. They can straight up take your or another countries money and gold at gun point.
4. They can straight up just print money into existence.
As a humble debt collector, It all leads to #bitcoin
quoting nevent1q…aal5If taxes aren't voluntary, it's theft.