reply to post by Merinda
I recently mentioned this in another thread.
Think of it this way: You've saved $1,000 and you didn't touch it for a year. You already paid taxes on it, so will you pay taxes on it again this
year? No. If you spent that money now, not only would you still have the value of that money in what you purchased (a diamond ring, gold, whatever),
but the people that you paid the thousand to would have to pay taxes on it, buy food, clothing... And then the employees of those businesses would pay
taxes on their pay, and buy stuff. We're talking just a thousand dollars here; how many billions - if not trillions - is sitting around in banks,
offshore accounts, wall safes...NOT generating taxes or jobs?
Money sitting in a bank can't be earned or spent. It can be borrowed, but the interest paid on loans only adds to the money just sitting there.
This current system needs to be changed because no one should have the right to own Legal Tender. Legal Tender belongs to the economic system. It is a
temporary pause between money earned and money transformed into personal property. The filthy rich should have to dump all their money back into the
system by trading it in for gold, silver, land, apartments, yachts...