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Tuesday, November 24, 2009

This Country Does Not Pay Its Bills With Tax Collections

This country does not pay its bills with tax collections, this country pays its bills by expanding the money supply and mortgaging the future. That's why politicians love the Fed- it allows them to spend wildly without taking the money directly out of the citizens' pockets. Instead, inflation caused by the expanding money supply acts as a constant flat tax that the politicians can pretend isn't a tax.

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