Hacker News new | ask | show | jobs
by ksherlock 235 days ago
I don't understand your core mechanism. As you've described it, joe taxpayer pays, say, $600 in taxes to the IRS. The IRS gives that money to the federal reserve. The federal reserve runs their money printer and gives $2,700 back to joe taxpayer and $2,700 to the treasury. That's just inflation with extra steps. It would be interesting to see people clamoring to pay -more- taxes though.
1 comments

Ksherlock, thank you for your response but it’s not a tax! The 600 dollars is paid out from the employer then goes to the IRS/Fed who verify then the money (ADP) is used from a 1 - 9 (600 to 5400 which is split to 2700 dollars) which I know it not in Basel III or JPmorganChase or Citigroup but it’s the federal government! Then 50% of federal taxes for the worker will not be needed to be deducted but the Fed will just move the money over at the top! More money for everyone!
What you call "more money" is better described as "runaway inflation."
I’ll go back in the lab and study a little more! Thanks for the feedback.