Post
Topic
Board Politics & Society
Re: Why do we need to Tax?
by
Elwar
on 29/09/2011, 13:48:55 UTC
Printing money to inflate the currency is just a form of tax, it is a tax on wealth.

There is not much reason why you should not do one over the other. They both do the same thing just in different ways.

We currently do both in the US.

Getting rid of all taxes and just printing money would at least get rid of the huge amount of beurocracy that comes with paying taxes which would save hundreds of millions of dollars.

But it would shift our way of using money dramatically. Any money that you earn, you would benefit from spending as soon as possible. There would be no incentive to save money. Investment would be very difficult.

There would reach a point where people would drop the currency and use other means to trade. Then the cost of the IRS would be shifted to the cost of keeping people using our currency.