> This is exactly the point ...

Considered alone the notion of replacing taxation with "controlled"
inflation left me open-mouthed, but that's not so unusual...

As always, Russell prods us into thinking a bit.

The ongoing train wreck in US commercial banking lends (?) an
appropriate backdrop to such discussions. Not to worry - The
rich folks chestnuts will be pulled out of the fire with 'po folks
money - again. It's necessary, I know, but it'd be nice if, for once,
they did'nt emerge from the rubble waving the flag and lecturing
the rest of us about hard work, thrift, and self-reliance.

Figure the odds.

Jack


On 3/17/08, Gerhard Fiedler <lists@connectionbrazil.com> wrote:
> John Gardner wrote:
>
> >> 3.    You could assume that the government receives exactly the same as
> >> the gross tax take was before so that their net funds availability is
> >> higher as there is no tax depatrtment etc. This is perhaps the best
> >> example to address.
> >
> > People don't retain wasting assets - It would devolve into a race to get
> > out of the currency, with the devil taking the hindmost.
>
> This is exactly the point. They would either try to get out of currency
> (trading goods directly) or start using indexes. With the effects I
> described in the part of my earlier message that Russell snipped with a
> simple "no" :)
>
> Gerhard
>
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