I and my wife were talking about some thing few days back and topic on income tax filing came up and my son who's 7 asked me what is Income tax? and I took a pause and was wondering where to start, but anyway i told me that it is some amount of money that we need to pay to the government from our incomes. Now i have been coaching him on bitcoin and how money works, so though his followup question, I kind of expected but still amazed me. His follow up question was "if govts can print money all they want, why they want taxes?" what amazed me is that even kids when taught basics correct can ask right questions, makes me wonder that as humans we naturally posses the skill of critical thinking. Its only the amount of brain washing done by schools & religions is the reason why most of the humans are not able to ask the right questions. I am a firm believer only by asking right question can one enlighten oneself, I am glad my son is on the right path (at least that's what i feel)
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0 sats \ 0 replies \ @lrm_btc 20h
I remember asking my dad when I was a child why they don't just make more 100 dollar bills instead of 1 dollar bills, and he properly explained to me that it devalues our money. I'm very fortunate he didn't do the cop-out of "you'll understand when you're older," because it got me thinking from a young age. We underestimate what children can understand, for sure.
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0 sats \ 0 replies \ @4dcfa2e179 29 Jul
Nice story😂 kids’ curiosity really cuts the heart of things. Yes, Government can issue new currency, but it still needs taxes to keep that currency worth something and to steer the economy.
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0 sats \ 0 replies \ @bitcrazy 29 Jul
Your son is a small genius. Period.
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