[ExI] relationships with money, was: RE: extropy-chat Digest, Vol 152, Issue 3
spike66 at att.net
Thu May 5 00:53:25 UTC 2016
From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of William Flynn Wallace
Sent: Wednesday, May 04, 2016 5:36 PM
To: ExI chat list <extropy-chat at lists.extropy.org>
Subject: Re: [ExI] relationships with money, was: RE: extropy-chat Digest, Vol 152, Issue 3
>>…If the US government began to indicate it intended to illegally seize US citizens’ assets without due process (such as a criminal conviction) yanks would sell their holdings to foreigners and flee with the foreign currency…
>…But Spike, they already have the lawful means. All they have to do is to change the tax rates. Remember 90%? bill w
Again, this conflates what we earn with what we own. The Fed can tax every earning at 100%. They would collect nothing, for no one would work. The population would need to spend their time hunting and gathering. But the Fed may not seize what we already own. The Fed may not seize assets, only earnings.
There are plenty of examples of contemporary political rhetoric which ignores this distinction between what we earn and what we own. Once we own, it is forever out of reach of the Fed (but not state governments.)
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