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197 sats \ 3 replies \ @0xIlmari 1 Feb \ on: Tariffs Are The Norm, Income Tax Is The Experiment econ
Look at them yuuuuuge profits! Best profits! Only the greatest profits!
Why would you want to come back to those piddly sub-5% profits!?
On a more serious note, like I said elsewhere (#872224), if you want to start making a dent into the massive public debt (which is not going to magically go away), Treasury needs to start turning a profit. I don't think cutting out a massive source of revenue is conducive to that goal.
making a dent into the massive public debt
People are mid-curving this trying to square the circle around revenue and the debt, particularly irksome in Bitcoin where we know you can't taper a ponzi.
This is a currency war.
Gutting the fed is offsetting the income tax and slowing the print relative to foreign currencies, which strengthens the dollar against other fiats. The tariffs further slow the export of dollars, which is a big problem for the rest of the world who's debt is largely denominated in those dollars.
This will create a global debt crisis and defacto jubilee that crushes all other fiats in a necessary step toward Bitcoinization as I've been saying for some time. Dollarization via stablecoins is another prong in this attack.