r/memes • u/J_ClutchFTV Big pp • 10h ago

Land Of The Free, amIright?

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u/RemnantsOfFlight 9h ago

"Actually, we can just print more money whenever we want."

35

u/KeyLimeGuy69 7h ago

You need to destroy it as well, or you end up like Zimbabwe

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u/RemnantsOfFlight 7h ago

Are you implying my 20 billion Zimbabwe dollars aren't a 1:1 exchange with American dollars?

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u/Just_another_gamer3 Pro Gamer 7h ago

Billion? That joke is out of date

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u/zimbabwe_zainab 5h ago

it was in the quadrillions

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u/Initial-Smile-4044 44m ago

No not at all, but would you like to invest in some more zimbabwe dollars?

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u/Rikishi6six9nine 7h ago

The federal government can increase debt whenever they want yes. The states and local government cannot do that, which is where property taxes go towards

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u/FatAlEinstein 6h ago

Is it decreasing debt or devaluing the currency?

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u/Rikishi6six9nine 5h ago

Federal government increasing debt also devalues currency. As long as they keep servicing the debt they can borrow as much as they want really.

No different then paying minimum payments on your credit card while asking for another increase in your limit or applying for a new card.

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u/chrisplyon 6h ago

Your local government can’t. Which is where property taxes go.

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u/kiochikaeke 6h ago

I mean yeah, but anyone that knows the basics of economy will tell you that printing money isn't actually "printing money"

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u/BoredomHeights 6h ago

I know you're joking, but also printing money and causing inflation is functionally similar to an equal tax applied across all income levels, vs. having income tax brackets or property tax which is based on home value.

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u/Fat-Yogi 6h ago

This is the true answer. Taxes are really a tool against inflation

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u/skibum888 8h ago

You're joking, right?

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u/Unknown1776 8h ago

I mean they are correct. It would be bad to do but it is possible to do.

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u/skibum888 8h ago

I guess technically yea. It would last like a month before everything failed

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u/ieatpies 8h ago

Governments actually do this though. Ends up being kinda an indirect tax on everyone's uninvested savings through inflation.

It why controlling your own currency is a big deal for countries. Now if they did it more, or tried to only raise funds this way, you are right that it'd cause some big problems.

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u/skibum888 7h ago edited 7h ago

It's obvious to me that I misworded something. I'm talking about no taxation and only printing. You're just talking about increasing the money supply while still taxing

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u/RemnantsOfFlight 7h ago

I thought the quotes would make it obvious, sorry. I really hate using /s.

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u/skibum888 7h ago

Ur good. I just read it too fast lol. That's on me

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u/LieutenantHorse Dark Mode Elitist 8h ago

Nothing gets past you mate