Government reaps tax benefits from its debasement of its currency. From el gato malo at boriquagato.substack.com:
inflation is tax farming and debts and deficits are the road to dictatorship
it’s often said that “inflation is a tax upon savers” but i think that few people really understand what that means. they see the part about “it devalues the money you have in the bank” and sort of nod and say, “yup, that’s a tax on savings alright!” but this is small potatoest acreage of that tax farm.
the bigger game is a bit more subtle.
if you really step back and look at it with fresh eyes, there is so much of “taxation” that does not make any sense.
you buy a house.
you pay property taxes on it for “services” and “safety.” this is forced. you cannot opt out. doing so means they take your house even if you own it outright. (this, of course, implies that you cannot really quite own it outright, but that’s a whole other discussion)
then you sell this house 3 years later for more (in nominal terms) than you paid for it. now let’s posit a scenario where the real value of the house has stayed about the same but the value of the dollar has been debased through inflation:
because of this debasement nominal price rose. you now owe tax on the capital gain.
it’s quite literally a tax on the government trashing the currency.
and this tax is always with us, even if housing outperforms CPI. some of that gain was debasement of currency and uncle sam and most states get paid for that too.
you even get taxed on real losses.
I love that meme of bustling busy vintage urban street packed to the gills with walkers, buses, cable cars, jalopies, poleece, and the caption…we had roads and infrastructure before the 16th amendment and 1913.
You didn’t build that, comrade. (/s)
Applying the patina of legality to everything is how they [controllers] get away with so much.
Regarding Brandon’s handlers showing some restraint, they know that the sweeping amnesty is going to put the approval into negative rating and don’t want to be associated if Israel goes nooklar?
Think…it ain’t illegal yet. (h/t-Funkadelic)