Comments by "Gilded Chalice" (@GetGwapThisYear) on "The Plain Bagel" channel.

Absurd statement. QT is a failure of the state to adequately implement a functioning tax system, and an admission of its lack of intention to install one.
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@ricardokowalski1579 are you joking? Do you know the purpose of taxation?
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@ricardokowalski1579 and it's rude to condescend to people when you don't understand the fundamentals of the discussion you're having. The purpose of taxation in an economy with a fiat currency is to regulate supply to preserve its value. The purpose of progressive taxation is to prevent wealth pooling at the top and impoverishing those at the bottom. QT does the opposite function. It removes currency from circulation without redistribution, investment or value creation. It's far more productive to implement an adequate tax system that allows for public sector investment and value creation, without obfuscating the problem. QT is neo-liberal, pseudo-economic nonsense, and it doesn't solve anything.
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@ricardokowalski1579 no, it isn’t. Governments do not spend taxpayer money. They create money to spend, then regulate the supply via taxation. That is the sole purpose of taxation. Your follow-up question is equally stupid. Impoverished people do not have savings, therefore the value is not undermined. The only way you stimulate growth in an economy is via spending. That’s an indisputable fact. If you squeeze the poorest to where they are dependent on debt (credit cards etc.) to afford the essentials, you enrich others at their expense. The only rectification is government spending on public services, such as state owned transit systems or healthcare. This way you create non-profit generating institutions that serve the public and through which you can extract the excess currency in circulation whilst also reducing prices. The private sector’s only aim is to generate profit, often at the expense of maintenance, improvement, and wage growth. Obviously, we know America will never create nationalised infrastructure for its citizens because nobody there gives a shit, and they’re all in it for their own gain, so the best you can hope for is a progressive taxation system that removes most of the excess from the top earners. QT is a means to avoid this whilst still removing currency. It’s ineffective, which is why it’s been done so many times in the last few years and we end up back here again shortly after.
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