Re:The US Is a Banana Republic: The 1% Own More Wealth Than ...
by sleepysysadmin on Tuesday October 12, 2021 @09:07AM
(#28839159)
>This zero hedge obsession with the gold standard and simplistic view that if it were reinstated the problems listed would be largely eliminated makes it hard to take them seriously. You know who also is not on the gold standard? Every other country where a large range of conditions exist.
When the developed world went off the gold standard it flipped how taxation works. Without a gold standard, the fiat money + government no longer can tax.
Mind you, the 'gold' factor doesnt matter. Maybe it's a crypto standard or oil or something. It doesnt matter but right now it's broken. If the USD and all these other currencies dont go back on a standard, it effectively means a caste system will form.
Instead, you have the endless pressure to drop taxation, but the government can only pretend to drop taxation. If you look at the USA, every single tax break has been entirely fake with no actual or real net change in taxation. Fully intentional because nobody can touch that.
When the developed world went off the gold standard it flipped how taxation works. Without a gold standard, the fiat money + government no longer can tax.
Mind you, the 'gold' factor doesnt matter. Maybe it's a crypto standard or oil or something. It doesnt matter but right now it's broken. If the USD and all these other currencies dont go back on a standard, it effectively means a caste system will form.
Instead, you have the endless pressure to drop taxation, but the government can only pretend to drop taxation. If you look at the USA, every single tax break has been entirely fake with no actual or real net change in taxation. Fully intentional because nobody can touch that.