PRINTING MONEY – IS IT REALLY BAD?

Some would say that printing money is fairer than manipulated income tax system because when printing money it is devalued and no one escapes the pain? Okay, but why do either? I see income tax as problematic in that it causes huge amounts of time spent on preparing tax forms to prove your expenses and income, which in a way is yet another tax of time, paper, and stress, not to mention the cost to hire a CPA or tax preparer due to the complicated tax codes in the US. But that is not a good reason to choose another method for collecting government revenues, nor is it a justification that we need to print more money for the government in trade for getting rid of income tax.

For those who argue that printing money is fairer. Okay, let’s discuss that. Printing money in and of itself isn’t necessarily a problem “if” the money is backed by future earnings, something of value, and that monetary system has intrinsic value to the users – belief in it, the faith of its intrinsic worth. Printing money devalues the money, and we must remember we are worried about the purchasing power for the middle class, thus, they need more of it that is a downward spiral if I ever saw one.

It is true that printing money causes everyone pain equally, except when you print money and it is immediately funneled to friends of politicians – thus, everyone else pays and those who get the juice don’t pay, their losses in inflation are well covered by the gifts of their incestuous relationships. Printing money often increases wealth at the top, not necessarily at the bottom even if you use that money in social services. If you give money to the poor, the investment class has it in just a few transactions, increasing their wealth.

What about the need for more money so everyone has a chance to live well? Yes, you have to “get money” into the system as the system grows, but that doesn’t work if you don’t watch the flows. Taxing income especially on a graduated scale is sinister in that it penalizes productivity and thus, you get less productivity.

Society always gets more of what it rewards and less of what it penalizes. So if you give away free money, then you reward laziness, and if you penalize earning money (which means you did something of value to produce something) then you get less of that. That’s the reality. Think about this.

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