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The Crisis of the American Tax Statemises.org/mises-wire/crisis-american-tax-state
648 sats \ 3 comments \ @Undisciplined 11h econ
By Ryan McMaken
The United States is now a full-blown “tax state” in that lawmakers can raise taxes with minimal effort without meaningful legal resistance from any other domestic institution.
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92 sats \ 2 replies \ @Scoresby 8h
Recent experience has also shown that the US president can unilaterally raise import taxes to any level he prefers. This doesn’t even require a vote of any kind. And, should these taxes prove insufficient to meet the needs and preferences of the central government, the central government can borrow legally unlimited amounts of money.
I've been thinking about that famous phrase "No taxation without representation." Is there an equivalent for our era? We have representation (poor, unresponsive, corrupt, in many ways broken -- but still supposedly we vote for reason). So what is the equivalent phrase that could become a rallying cry for our current situation?
"No inflation without ..." -- I couldn't find a good ending for this one. "No deficits without permission" -- but I don't actually think the problem is that they aren't asking for our permission. It's that they can spend our money without consequences and without permission.
I'd love to find the right phrase for this.
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102 sats \ 1 reply \ @Undisciplined OP 8h
If there were an easy rhetorical fix, we probably wouldn't be in this runaway incentive problem.
I think we just need to gather every receptive person onto bitcoin's life raft and ride this out.
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0 sats \ 0 replies \ @Solomonsatoshi 7h
China has won the trade war. You cannot refine rare earths to support your military industrial combine. Trump can beg but it won't help. The US empire is no longer functionally viable.
Government is crucial to the wealth of nations. Nations like DNA, compete for territory and resources. Free enterprise cannot thrive where there is no security from external threats and where there are no consistent rules, laws and property rights.
Certainly jump onto the life raft Bitcoin provides. This will hasten the collapse of the US military industrial combine and its global hegemony.
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