Modern governments with their own Fiat currencies don’t use taxes to pay for anything. Taxes money doesn’t get distributed, it gets destroyed to control inflation.
Comment on Taxes are cool
tmyakal@infosec.pub 16 hours agoNothing inherently wrong with taxation. The problems are how taxes are determined, how they’re collected, and how that money is distributed.
Steve@communick.news 15 hours ago
LwL@lemmy.world 14 hours ago
Not how that works. Not how any of that works.
TrojanRoomCoffeePot@lemmy.world 14 hours ago
Steve@communick.news 14 hours ago
It really is how this works.
It’s just that nobody realised until the last couple decades. And now we have a century of inertia behind economic theories that says otherwise. A century of economic theory that’s been horrible at predicting the real economy.But it’s not difficult to understand.
If a government can make money out of nothing to pay for anything it needs to (the definition of fiat currency), then it doesn’t need to collect taxes to pay for things. If it doesn’t need to taxes to pay for things, then what do taxes do? Taxes remove money from the economy, offsetting the money added by government spending from nothing. This is direct inflation control.CapuccinoCoretto@lemmy.world 10 hours ago
You’re onto a piece of something, but it’s a partial truth that you’ve perhaps over generalized.
To your point, America is exporting it’s inflation globally so it can buy things with money it doesn’t have. I also agree to your point that neoliberal economics, especially how it is discussed in public through western (American) & bilkionaire owned media and government is a sham. This is some of the kernel of truth you speak of.
You overstate your case when you talk about taxation and economics as a whole. Don’t throw the baby out with the bathwater.
Banana@sh.itjust.works 16 hours ago
Exactly. Conceptually, taxation isn’t left, but the way some government use those funds absolutely is theft.
Not to mention how angry people are about taxation, but are also completely unaware that conceptually, profit is actually left of your surplus value.