Post
Topic
Board Economics
Re: USD is backed by the fact that IRS only accepts it for taxes...
by
beckspace
on 30/11/2012, 23:30:19 UTC
if the government financed itself completely through printing (entirely possible) then it would become immediately clear what's going on.

Then maybe the amount of the government income that comes from printing is far greater than the one coming from taxes. I wonder if there's a way to calculate the percentage in some countries: The amount of money printed X the amount of tax collected in any fiscal year. I'm sure there's a pattern.

Income tax allows allows politicians to play favorites with the tax code.

Very clever. Less taxes! (more printing)