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Can Trillion Dollar Coins Save the Economy? - Yahoo! News
I just don't understand the argument for this solution. In my mind, this is an equivalent of defaulting on our debt.
But when I think of differently, from the 'inflation' standpoint instead, it seems this is exactly what all of us "Flat-Tax" promoters have been asking for...
If $1T were created to pay down the debt, which equally devalued every dollar in the economy equally, say by 5%, we would all have a buying-power income decrease of 5%. Whether you make $1M/yr or $20k/yr, your pay is decreased 5%...
For once, I won't argue w/ the Keynesians - you go ahead and do what you think is best. You'll be your own undoing.
I just don't understand the argument for this solution. In my mind, this is an equivalent of defaulting on our debt.
But when I think of differently, from the 'inflation' standpoint instead, it seems this is exactly what all of us "Flat-Tax" promoters have been asking for...
If $1T were created to pay down the debt, which equally devalued every dollar in the economy equally, say by 5%, we would all have a buying-power income decrease of 5%. Whether you make $1M/yr or $20k/yr, your pay is decreased 5%...
For once, I won't argue w/ the Keynesians - you go ahead and do what you think is best. You'll be your own undoing.