For Local Taxes
Bob Komives
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State and local governments have one advantage over their national government. In theory and practice they balance budgets with true taxes. National monetary recall is worse than useless. Like trying to pull yourself up by your own boot straps, nothing is gained. When our monetary policy recognizes this we can leave money collection to state, local, and international governments. Absent the illusory burden of national taxes through monetary recall, citizens may approve local taxes to balance their budgets while expanding and improving services.
The value of the dollar in the USA reflects some discount for an underlying local tax burden, but individual local governments do, nevertheless, get more income when they raise taxes. Because they do not mint money, when they tax they collect money minted by someone else. They collect something they need but cannot make, something their constituents have. They collect a type of “tax in kind.”
The value of the dollar in the USA reflects some discount for an underlying local tax burden, but individual local governments do, nevertheless, get more income when they raise taxes. Because they do not mint money, when they tax they collect money minted by someone else. They collect something they need but cannot make, something their constituents have. They collect a type of “tax in kind.”
:: Bob Komives, Fort Collins © 2006 :: Plum Local IV :: 84. For Local Taxes ::
With attribution these words may be freely shared, but permission
is required if quoted in an item for sale or rent
With attribution these words may be freely shared, but permission
is required if quoted in an item for sale or rent
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