Why Do We Pay Taxes?
November 05, 2010
– Comments (2)
QE1 was supposed to be an "emergency" measure and temporary....
QE "light" was just a continuation.....
now QE2 is actually monetizing our DEFICT......the current spending of the government.....and we are told there will likely be a fleet of QEs going down the road....
since about half the budget is now deficit........about half of CURRENT spending of our government is simply the result of government printing........or loaning money to itself....
in the past, the government had to go out to third parties, like its citizens, foreign governments, or others, like taxpayers to fund its deficit....but now, it can simply borrow the money from itself......or just print it.
Once a government can borrow from itself, it no longer needs to borrow from others like China or Japan.....as a matter of fact, in the not too distant future, the FED will own more U.S. debt than China and Japan combined!!!!!
If the government can monetize half its budget......why can't it monetize the whole thing? .....and if it can monetize the whole budget.....why should anyone pay taxes?
The reason no one asks this question is because, until yesterday, the issue was never in play.......but soon, expect more and more to question.....if the government can monetize its budget.......why should anyone pay taxes.......?
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