Follow Where You Tax Dollars Are Being Spent | zero hedge: "Earlier during the S&P conference call, one of the participants asked the brilliantly simple question: with the Fed monetizing debt, why should the US even bother to collect taxes? When one steps back from the apparent insanity of this rhetorical question, it does present a very good though experiment: after all what better way to stimulate the consumer part of the economy than to let 'taxpayers' no longer be that, and retain 100% of their cash. In the meantime, since nothing impacts bond yields, the statists will say, the Fed can continue to monetize debt indefinitely: after all we have a printing press and a reserve currency (an argument so asinine even the S&P laughed at it), until we get to a point where consumers have no choice but to lever up in the face of rampant inflation."
And the answer is: Because taxes are only collected from the "rich" you dummy! And they need to make
them you poor schnell, schnell!
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