waytoosunny on Nostr: Q: Why does taxation exist if governments can just print money? A: Because: i) taxes ...
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?
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?