Science Memes

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fuck this (mander.xyz)

submitted 1 day ago* (last edited 1 day ago) by [email protected] to c/[email protected]

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Friendly reminder: https://www.scientificamerican.com/article/yes-science-is-political/

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[–] [email protected] -1 points 1 day ago (1 children)

Federal taxes don't actually work that way. The federal government prints its own money. All taxes effectively go into a giant shredder and are unrelated to spending.

[–] [email protected] 10 points 1 day ago (2 children)

I don’t even know where to begin correcting such an insane statement. Why do you think k taxes are collected if it just gets shredded? Sadistic pleasure?

[–] [email protected] 5 points 1 day ago

He makes a good point, it's just to balance the inflation. Take the tax money to offset the federal reserve printing swathes of money to fund government endeavors.

[–] Maggoty 1 points 1 day ago (1 children)

It's a real theory. From what I understand though the shredder is a thought experiment, not meant to be taken seriously. They do acknowledge that you have to receive money to spend money. they just think of it like a balancing act instead of a 1 to 1 relationship.

[–] [email protected] 2 points 1 day ago (1 children)

You don't need to receive money to spend money if you print money. The purpose of taxation is to reduce the monetary supply.

[–] Maggoty 1 points 1 day ago

In one specific economic theory.

I'm not saying you're wrong. I'm pointing out that it's a whole debate.