(urth) Gene Wolfe's Politics
mcquaryq at comcast.net
Fri Mar 27 17:29:05 PDT 2009
On Mar 26, 2009, at 4:32 PM, Dan'l Danehy-Oakes wrote:
> I'm talking about the gummint going bankrupt, silly boy.
Gummints don't go bankrupt, having produced nothing in the first
place. They may print money, which will devalue all the goods and
services of the society and bring about its ruination, of course.
They have that power, but they don't have the power to create money
in the original sense of the word, as a store of value. You may or
may not be aware that businesses don't pay taxes either, individuals
do. Businesses pass them along to their customers to pay.
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