Forum Post: what if the government could print an infinite amount of money and not have to collect taxes ..?
Posted 12 years ago on Dec. 4, 2011, 9:48 p.m. EST by FriendlyObserverA
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Why do we have a system that limits the amount of money we can print?
When we have people willing to work and surely we could create jobs for them .. many many jobs with an unlimited supply of money..
It seems foolish to tie our hands like this .. money is an unlimited source .. other resources such as labor and material are limited .. but not money ..and yet it is money that holds us back .. impedes our productiveness ..
have economists or politicians recognized this ..counter productive money limiting tax system.
I never hear a discussion on this ..
edit: So what I am trying to conceive is the idea where we can print unlimited money .. and supply everyone with a job .. and not cause inflation .. that is the question , the challenge for the masterminds ..
hint: it can be done ..and it will abolish the tax collecting system
That's pretty much the system now ...
The rich and the corporations aren't paying taxes, and the government is printing money like Zimbabwe in 2008.
Im assuming this is a joke..
hchc ..what the hell are you doing on my thread !
Hello!
what is the point here? money would be worthless then. it almost is now.
Because the more money you print, the less it is worth.
You need to read up on the Weimar Republic. Money became so inflated that people were burning it to heat their homes because it was cheaper than coal.
http://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic
cheaper than coal.. Joe that's funny !
I am not making this up. There are plenty of books on the Weimar Republic.
http://downdirtyword.blogspot.com/2011/07/money-to-burn-in-weimars-post-war.html
http://moneytipcentral.com/wp-content/uploads/2009/03/burning-cash-in-stove.jpg
They used it for insulation, wallpaper, and many other things too.
I understand the inflation part yes .. in this current system .. but also by trying to prevent inflation we have people out of work that are willing to work .. not a good system
So what I am trying to conceive is the idea where we can print unlimited money .. and supply everyone with a job .. and not cause inflation .. that is the question , the challenge for the masterminds ..
I will give you a hint .. there is a way ..which abolishes the tax system at the same time
Money is printed to stimulate the economy. You are correct, and that is what is done. However, there is a dark side. If too much is printed then hyper-inflation occurs and the money becomes worthless. In fact, paranoia over hyper-inflation that existed for decades after the hyper-inflation of the 1970's is what got us into the liquidity crisis and partial financial collapse in 2008. The Federal Reserve, goaded by politicians appeasing an inflation-paranoid voter base, erred "on the safe side" of liquidity creation consistently since the 1970s. As a result, instead of funding the economy with Central Bank liquidity, the economy was funded with too much borrowing, with a gradually increasing amount coming from foreign sources. In the end this borrowing was masking the growing liquidity crisis and became unsustainable, and started to implode in 2008. The implosion was arrested by creating liquidity, but the goal of using the Federal Reserve to suppress inflation is still popular today, instead of giving the Federal Reserve the goal of promoting productivity by creating the correct amount of liquidity, which is why the problem is so difficult to fix. In addition, the practices that mask over the liquidity problem, such as government borrowing to create jobs, are also still widely accepted. So the problems are still there. What we really need is to tell the Federal Reserve that its' job is to maintain productivity, and only to maintain productivity, and specifically not to engage in market manipulation of any kind, even guarding against inflation or deflation or bubbles. Then and only then can we really make forward progress.
the challenge is to have the ability to print unlimited money without causing inflation .. I have found a way .. can you?
I think I know what you mean. You are talking about the "Popular Economic" idea of legislating new money. You are right that it can work. However, it is too tempting for politicians to do and the result can be devastating. Historically in the US the legislation of new money has only been done in wartime, that I am aware of. However, there have been calls in the past for Amendments that award new money to people when they turn 18, for instance, or alternatively for using new money to pay for the Federal Gov budget (I think that might be similar to your idea).
I am familiar with Mr president Lincoln printing money in wartime .. yes and it gave him the edge he needed .. possibly.. but I am not familiar with "popular economics" legislating new money .. what methods do they propose to prevent inflation ..
Here is what you get when you print money at will...
http://digitaljournal.com/image/38586
I have a couple of million in Zimbabwe. Too bad a beer costs a couple of million.
Is this a serious post? If so, I feel sorry for you.
read it again I just edit
Why do we have to supply them with jobs? If we can print unlimited money why not just give them a check for living. Actually, just an unlimited credit card for all.
haha .. thats very clever .. but doesn't solve the inflation end of it .. thanks keep trying
There is a school of economics that says pretty much what you are asking for.
Say hello to the Mosley/Mitchell MMT economics.
http://pragcap.com/resources/understanding-modern-monetary-system
No joke this is for real
Sorry hchc for borrowing you line, but "HELLO"!
When you get all those other countries, whose economies are tied to our own, to agree that we can print all the money we want to....let me know.
Oh, and since labor and materials are limited-then it's not so "surely" that we can just whip up jobs for all the people who want to work.
This is a great example of the intelligence that is OWS. NO understanding of how currency works or represents
its not what it does do , it's what it doesn't do .. that raises concerns
Is that supposed to mean something
it does to a creative person..
Anyone that posts something this stupid actually has the gall to consider themselves "creative" is really sad for the future of this country.
its a challenge for all those masterminds that like challenges
you couldn't master a paper bag