(10-05-2021, 03:47 PM)Lucky2Last Wrote:

(10-05-2021, 03:37 PM)mikesez Wrote: Taxation is an essential function of government.  Taxes are income to the government.  Try to wrap your head around it because it won't change.

That's not true according to modern monetary theory. I'm still in the early phases of learning about it, but it's looking more and more like that's the theory being adopted by the fed. In that case, taxes are useful for creating equity and punishing political opponents.

MMT derives from Chartalism.
Chartalism explains that people adopt a government's currency if and only if that government is collecting taxes in that currency.
So even if you go down that road, you still have taxation as an essential function of government.  And the money collected is income to the government.   The big innovation of MMT is they are showing that the taxes don't need to be equal to the spending if the government has control over the creation of money.  However, the taxes still have to exist.  They can't be zero or else people will start to use something else as their main currency.

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(10-05-2021, 04:53 PM)flsprtsgod Wrote:

(10-05-2021, 03:52 PM)Senor Fantastico Wrote: I worry about losing our reserve currency status.

To whom?

At this point you'd worry about BitCoin, DogeCoin, etc.

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