Dawn on Nostr: Since taxes paid to the federal government are excluded from the money supply, ...

Since taxes paid to the federal government are excluded from the money supply, wouldn't getting rid of the income tax cause another huge increase to m2 supply & another round of wicked inflation?

Just curious on thoughts here. This gets into levels of economics that are mostly beyond me but it was brought up to me recently & my pea brain can't reason out why that wouldn't happen.