Do We Actually Need Taxes? The Fed can print INFINITE money...

With all the spending the US government is doing these days, it is becoming clearer to everyone that they don't actually need our tax dollars. So if they don't need taxes, why do they make us pay them at all? One reason: no one would use the dollar otherwise. It has no intrinsic value other than avoiding property confiscation and imprisonment. If they didn't charge taxes in dollars, we could use any currency we wanted, and they wouldn't have any spending power by printing.

#inflation #fed #taxes

I am not a CPA, attorney, or licensed financial advisor and the information in these videos shall not be construed as tax, legal, or financial advice from a qualified perspective. Linked items may create a financial benefit for Heresy Financial.

[redskins-ever]

Some Really Awesome Info you give & Topic Video Titles you make, second vid of your's I'm listening to, loved the one about The Third Debt Jubilee you madde in March, learned some things that didn't pop out to me before, I think.

[erskerbobbles]

Aside from keeping us impoverished, taxes are primarily intended to control our spending behavior.

[antrena]

Solid video bro, I look forward to watching

[Vl]

Currency has to first be a commodity to store value (salt, metals, livestock, etc) that can be consumed later with no loss of value or else it is worthless in the long run. Fiat does not fufill any of those..

[chakavak]

Good content! As you know though, the main intrinsic value into dollar - at least for now - is being reserve currency and it’s a network effect as long as ~70% of international transactions are denominated in USD. Combing with what you say is: US people are paying tax to hold this status.
Whenever I read on the government pay cheques being distributed in the west hemisphere, my thought is with poor countries who don’t have the luxury of their currency being valuable to make them able to print helicopter money in current situation. And, god bless those even poorer countries with dept in foreign currency and need to import, too!

[collettewalton]

I don't mind paying taxes, what I do mind is corrupt governments. It is especially sad in South Africa, and we still don't have reliable electricity.

[holodeckdragon]

You are a really clear thinker. thnx for explaining things so well!!

[dustyrhodes]

If you don’t need to pay taxes, there’s no longer a balance sheet for the U.S. government. If it doesn’t need to keep it in balance, it could spend it like water, and a loaf of bread could cost $1 billion like in some countries. Actually, there are some countries that don’t have income tax, such as UAE. So, taxes as the reason for people to use currency is flawed. In some countries government actually owns some businesses. Taiwan, for example, government has monopoly in alcohol and tobacco sales, so it has a way to make money other than relying on taxes. It also owns rail, airport, postal service, power supply, just to name a few.

[Whisperhollow]

Because there are people who squabble over their portion of responsibility. The financial responsibility isn't applied equally across all peoples who use the financial system.

[ndnenkov]

While they both put purchasing power in the hands of the government, they differ in who, when and why that purchasing power is taken away from.

Taxation allows you to incentivise/disincentivise specific economic activities/behaviours/groups.

Monetary expansion indiscriminately takes away purchasing power from creditors (proportionate to their credit) and gives back to debitors (proportionate to their debt).

The two are not completely interchangeable.

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Additionally, the mindset of "I can't pay my expenses anyway, so I might as well give up my income and accrue debt even faster" would only lead to a harder crash.

[brentcrude]

So, if the US gov't can imprison me for not paying my taxes (in their fiat, dollar denominated currency) then, the intrinsic value of the dollar is...my freedom.
Did I get that right? 'Cause if I did, I think that is the literal definition of a Debt Slave.

[mydanshi]

Haven’t heard this before. Great content thanks.

[thejohnringo]

Naive me, I had no clue until now about the purpose of taxes. Holy smokes!

[danielgalindo]

Just started watching your videos 👍🏻great videos bro

[shade]

I always thought it's some obviously antiquated method to make it only appear like we are indentured in the system, as to say it's up to us to pitch in still to pay our part, when we don't need to- in particular for income taxes!

[rajunaidu]

"it was a weather balloon"-CNN

[leonreaper]

I heard that back in the medieval times they ONLY taxed the population if there was a war happening.

[charlesbeaudry]

You know guys there was a time when there was no income tax. Now that is a hole in Brown's argument. Actually I still agree with him, but there are other ways of enforcing money, not just taxes.

[jchoneandonly]

... Helicopter money?
I want a helicopter

[michip.]

Practically it wouldn't be possible to leave away taxes and just print money because the inflation created would be equally spread over the people with no regard to the income, profit, revenues, consumption, ownership etc. Ergo the inflation would be too high compared to the taxes being left away, so that people with a low or average wage could barely pay for essential goods and services.