Comment on fuck this asshole
alcoholicorn@lemmy.ml 3 weeks agoFederal taxes don’t actually work that way. The federal government prints its own money. All taxes effectively go into a giant shredder and are unrelated to spending.
Comment on fuck this asshole
alcoholicorn@lemmy.ml 3 weeks agoFederal taxes don’t actually work that way. The federal government prints its own money. All taxes effectively go into a giant shredder and are unrelated to spending.
ayyy@sh.itjust.works 3 weeks ago
I don’t even know where to begin correcting such an insane statement. Why do you think k taxes are collected if it just gets shredded? Sadistic pleasure?
didnt1able@sh.itjust.works 3 weeks ago
He makes a good point, it’s just to balance the inflation. Take the tax money to offset the federal reserve printing swathes of money to fund government endeavors.
Maggoty@lemmy.world 3 weeks ago
It’s a real theory. From what I understand though the shredder is a thought experiment, not meant to be taken seriously. They do acknowledge that you have to receive money to spend money. they just think of it like a balancing act instead of a 1 to 1 relationship.
alcoholicorn@lemmy.ml 3 weeks ago
You don’t need to receive money to spend money if you print money. The purpose of taxation is to reduce the monetary supply.
Maggoty@lemmy.world 3 weeks ago
In one specific economic theory.
I’m not saying you’re wrong. I’m pointing out that it’s a whole debate.