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View Diary: Republican efforts to skewer Obama and Holder over IRS and AP are blunted (118 comments)

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  •  If the object of federal taxation is to (7+ / 0-)

    recycle dollars back through the Treasury, there's no reason for any transaction to be exempt, nor for the rate of return to be greater than necessary to discourage hoarding and keep the money moving.
    That the current management of our currency is failing is evidenced by the fact that the velocity of the dollar is now less than at any time since they started keeping track in the 1950s. We have much more money in circulation, but the flow has slowed to a trickle because a whole lot of people are hoarding.
    Some, apparently believe that, if they hold on to it, it will be worth more. They need to be disabused of that notion.

    We organize governments to deliver services and prevent abuse.

    by hannah on Fri May 17, 2013 at 03:00:11 PM PDT

    •  You appear to be in the wrong diary (1+ / 0-)
      Recommended by:
      leathersmith

      or possibly on the wrong planet.

      Ceterem censeo, gerrymandra delenda est

      by Mokurai on Fri May 17, 2013 at 04:19:42 PM PDT

      [ Parent ]

      •  One reason the IRS kerfuffle is falling flat (0+ / 0-)

        is because the issue of tax exemptions is one the Cons don't really want to address because exemptions are a backhanded way to extend privilege and privilege is contrary to equality as the foundational principle of our system of governance.
        A transaction tax, as has been proposed, would do away with all exemptions and obviate individual filings and bring back enough money to fund all governmental functions at all levels with a rate of one half of one percent. In other words, half a penny on the dollar would fund all governmental functions, if every monetary transaction in a financial institution (where taxes are easy to collect) were taxed. But, if that were the case, Congress would be precluded from doling out dollars to curry favor and would, instead, have to focus on managing our resources well.

        We organize governments to deliver services and prevent abuse.

        by hannah on Sat May 18, 2013 at 02:59:56 AM PDT

        [ Parent ]

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