The Central Bank can produce an infinite amount of money

End of thread

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Because the act of paying taxes serves the same purpose as one of those shitcoins that burns a % of each buy/sell.

>W-we just do, ok! Now prepare to die so we can save money on social security by killing you!
>oh, and here’s several trillion to the tbtf banks!

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>It counteracts inflation some
Will it ever rebound? Inflation is almost at double digits. They seriously can't think any of this is sustainable. When was the last time inflation went down?

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The last official act of any government is to loot the treasury
We are simply watching the collapse of a government. Those in power are seeking to extract as much wealth as possible before the ship crashes. I think they are surprised shit has lasted this long.

> What's stopping them from just printing more money to pay off everyone's debt?
Would create a lot of moral hazard. People would take on risky debt anticipating another bailout (hmm wonder if this happened post 2008 in the financial sector)
>Why should I pay taxes then?
You should not. Federal income tax is illegal and inefficient. State or local taxes are more justified.

babys first time reading the bitcoin white paper?

Based thread

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Excellent thread OP, glad to see such quality in a see of shitcoin shill generals

You're a retard, your taxes are just like circumcision, it's you pledging to the jew your life and recognizing he is better than you, taxes are there to pay back the interests on a debt that's been printed out of thin air and lended to the government (the fed buying treasury bonds with printed shekels aka quantitative easing).
You pay for printed money with real labour kek.
>work a year
>company pays 120k€ for me
>I get 95k€ and they pay 25k€ to the government as taxes
>I pay 35k€ to the gov as taxes as well
>left with 60k€
>anything I buy is taxes at 25% so I only use 45k€ of real money
>save it to buy a house
>inflation cuts it in half
>eventually buy house
>I have to pay taxes every year for the house I own
>want a wife?
>you got to share everything you own with her once she divorces you (through no fault of her own really, women are like that when not controlled, and today they have been brainwashed into being whores)
This is slavery, the goal of wagecucking is just eating, and of course the 120k€ is an example, I make 48k€ as a good software engineer with a shit ton of leetcode mediums and hards, of it I barely rent and eat.
And of course, it's Paris so I have to endure niggers, ethnic statistics are illegal here but through observation I can say with confidence we have already been replaced, arabs are like beaners in the US, they're somewhat humans with crazy beliefs but they're homosapiens, niggers are legit monkeys.
So yeah but at least we're not speaking german amirite.

Why would printing 100T that'll cover the debt cause inflation tho? Assuming the debt is sovereign

>Why should I pay taxes then? Why doesn't the Central Bank just produce money to fill in the gaps of anyone who chooses not to pay their taxes? What's stopping them from just printing more money to pay off everyone's debt?
cause it's scarcity based. if you make money available like that it disincentivizes work; like what are seeing right now.
money exists as it does now so that we are all slave cattle.
it also keeps society running. it's a necessary evil that enforces the haves and have nots.

what you propose can work but then a select # of people have to get over their head that a few noble individuals have to keep working to keep society running. a new system will have to be replaced over many years to get rid of the old generation's sense of unfairness.
so many white collar jobs now are trash and do not add any real value to the economy, but they are there anyway so that the ponzi keeps running and so that the money-job connection is justified.

It's time for a White Strike desu

It’s because of the lack of taxes being extracted and less to do with the money because that debt would be paid either way.
Taking taxes from normies gives them less money to spend on stuff
Long term it’s probably deflationary though since high interest rates or any interest on govt debt filters to the market through banks

all this debt, debt ceiling and treasury bonds stuff are vestigial leftovers of the gold standard system.
they're that way not because they're necessary, but because of laws.

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ourmoneyus.org/how-public-spending-creates-money/

this is the only other site I've seen which puts it this way - which simplifies the whole "sham" of government finances
>Because our federal government is a currency issuer, it does not need revenue from taxes or bonds in order to spend. Therefore, the way of understanding public spending, which offers the greatest clarity, is that whenever the federal government spends, it effectively creates the money it uses to pay the recipients of its spending. At the simplest and most superficial level, the government spends the money into existence by writing a check to the recipient. When the recipient deposits or cashes the check, the Federal Reserve makes sure the check clears. For beginner purposes it is that simple.
>There are deeper and more complicated layers to this process, entailing somewhat convoluted balance sheet operations, which are shaped by our gold standard history and are due for an update in order to simplify the mechanics of the process. However, we will focus on a simple, straightforward way of understanding the monetary system without getting hung up on the detailed mechanics.

This is bullshit

Income taxes and corporate taxes disincentivize people from working
People aren’t working because of inflation putting too much money in the market. It’s because they need more money than McDonald’s is willing to pay

It’s common sense
Yep this system became obsolete the day the gold standard ended

To pay a creditor, the federal government sends instructions (not dollars) to the creditor’s bank.
The instructions are in the form of physical checks (“Pay to the order of”) or electronic messages.
The instructions tell the bank to increase the balance in the creditor’s checking (M1) account.
The instant the bank obeys those instructions, new M1 dollars are created and added to the M1 supply.
The bank then balances its books by clearing the instructions through the Federal Reserve, which debits the Treasury, the owner of infinite dollars. No money is destroyed because infinite minus any amount, still is infinite.

When you pay creditors, you follow the same first four steps. The difference is in step #5. The Federal Reserve sends your instructions back to your bank, telling your bank to reduce the balance in your checking account. At that moment, the dollars you created with your check, immediately are destroyed.

There is a moment of time, between when your instructions create dollars and when the dollars are destroyed. Those dollars often are known as the “float.”

When you spend, the money you create — the “float” — exists anywhere from a few seconds to a day or two. When the federal government spends, much of the float is permanent. It stays in the economy. The rest is destroyed by federal tax collections.

The “float” money created by the federal government — the money that is not destroyed by taxes — is called the federal debt.

In short, federal spending creates dollars and federal taxing destroys dollars. The federal deficit is the net number of dollars added in any single year. The federal debt is the net total of all deficits.

Contrary to popular wisdom, the federal deficit and debt are not a burden on the federal government. They are not a burden on future taxpayers. To “pay off” any part of the federal debt, the federal government merely returns dollars that exist in T-security accounts. No taxes are involved.

Printing 100 T adds 100 T to the total debt user. Than the sovereign debt payments the country is servicing will be almost 4x what were paying at 27 tril. Then well have to print more just to meet our debt payments, which will add more debt. (Incase you dont realize the act of the FED "printing" money creates debt, the money being "printed" is really just money being borrowed that didnt actually exist(fractional reserve)...thats kinnndd of instrumental to understanding why this is all a scam).. following this just leads to a spiral of more and more being needed to be "printed". Its happened before.

Compliance. More and more people are beginning to not comply. Interesting times ahead.

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I get gibs I stop working and go do my own shit. you and I are built different. If I had to choose between working at mcdonalds and UBI I'd choose UBI every time.
If I had to pick between my old jobs as a technical writer or ops supervisor and UBI I'd probably go UBI. they are some jobs that I might be interested in but for me free money stops me from working

I get OP is asking about free money for taxes and debt but I take it to the next step of why not free money for everyone. it is because of scarcity.

How much interest do we pay on that float