this post was submitted on 07 May 2025
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tax doesn’t destroy money… tax money gets recirculated… tax money is part of the economy… it literally buys goods and services
where do you think it goes?!??? do you think governments just set fire to piles of cash?
yes printing cash is a thing that governments rarely do - mostly to replace physical cash that does get destroyed, but it’s generally a very bad economic policy for governments to print cash… it devalues their currency and has a lot of truly awful flow-on effects (like loss of confident in the currency as a whole) that are far worse than the effect of having the extra cash
… and also printing cash is the opposite of what we’re talking about
The money supply guess up and down, it's ultimately a number that is open for manipulation to some extent.
This isn't necessarily undesirable, when the number can't be controlled at all bad things happen as the mass psychology of economic participants do things to the market that can't easily be countered.
Tax absolutely does destroy money. You think the government has a bank account they collect tax dollars into? Taxation is one if the ways that the government removes money from the economy, and hence controls the amount of money in the economy.