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10 sats \ 0 replies \ @028559d218 11 Mar \ parent \ on: Trump's Move of The Day... Going After Rep. Massie Politics_And_Law
if we got rid of income taxes in the United States the deficit would explode. Bitcoiners would be fine (I guess) but interest rates would go through the roof at the explosion of debt and deficit.
How and why people can advocate for this I still don't understand. If there were no 'income taxes' either hyperinflation would result (through yield control by the central bank) and/or interest rates would skyrocket as bondholders wanted higher yields for American debt.
Asset holders would 'be fine' maybe but it is fiscally unsustainable.