TAXES DON'T FUND SPENDING AT THE FEDERAL LEVEL. Stop spouting the lie that it is "our tax dollars."
The US has had a fiat currency since Richard Nixon took us off the last of the gold standard in 1971.
That means that Congress creates the currency every time they pass an appropriations bill. They don't need your taxes. (There are several reasons for taxes, but needing them to pay for government spending isn't one of them.) This also means that you can't stop them from spending money any way they like by withholding your taxes.
Will you please learn - really learn - Modern Monetary Theory (MMT) to protect yourself from the lies that our politicians tell you, using your lack of knowledge against you? And don't think that because you heard something that "someone said" about MMT means that you understand MMT.
You can watch The Rogue Scholar, Macro'n'Cheese, or MMT Mondays on YouTube to learn about it. Thanks!
No one spends it. When your taxes go back to the Treasury Department, they are deleted (erased or subtracted) from the system. This is one of the reasons for taxes: it offsets the "printing" of more and more money.
Stephanie Kelton has several excellent videos on YouTube about this. Look them up. She has graphics showing how this works.
TAXES DON'T FUND SPENDING AT THE FEDERAL LEVEL. Stop spouting the lie that it is "our tax dollars."
The US has had a fiat currency since Richard Nixon took us off the last of the gold standard in 1971.
That means that Congress creates the currency every time they pass an appropriations bill. They don't need your taxes. (There are several reasons for taxes, but needing them to pay for government spending isn't one of them.) This also means that you can't stop them from spending money any way they like by withholding your taxes.
Will you please learn - really learn - Modern Monetary Theory (MMT) to protect yourself from the lies that our politicians tell you, using your lack of knowledge against you? And don't think that because you heard something that "someone said" about MMT means that you understand MMT.
You can watch The Rogue Scholar, Macro'n'Cheese, or MMT Mondays on YouTube to learn about it. Thanks!
So where does the money I send to the IRS go? Who spends it?
No one spends it. When your taxes go back to the Treasury Department, they are deleted (erased or subtracted) from the system. This is one of the reasons for taxes: it offsets the "printing" of more and more money.
Stephanie Kelton has several excellent videos on YouTube about this. Look them up. She has graphics showing how this works.
So if I don't send my money, they have to print more? That means that the money i send does get spent.