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Comment by TapWaterBandit | Hacker News Reader

> Taxes are a relic of the long-gone physical money era. Vulgar taxation is a legacy technology that provides more waste than utility in the 21st century.

It isn't often I see really novel ideas on hacker news, but this is an interesting take. Will need to think about it more but definitely interesting to think about the best means of providing public goods etc and if the system we have does this.

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Taxation in the fiat CB/MMT era stops being a means to fill public coffers and becomes primarily a means to artificially suppress demand. You tax someone not to raise your funds, but to decrease their spending power.

If you need to fill the public coffers, just ask the CB! You can then use taxation to mitigate the inflationary pressure of doing that.

But generally taxation becomes a bandaid for poor economics, and institutions like the IRS are obscenely arcane and bloated. They should be eradicated and replaced by a much simpler and more automated digital accounting system.

No, this doesn't have anything to do with the virtual beanie babies known as cryptocurrency.

You are describing mmt which has been thoroughly rebuffed by mainstream economists. https://www.igmchicago.org/surveys/modern-monetary-theory/

Oh no, not the Mainstream Economists. Meanwhile, the USG is busy increasing their deficit and not taxing megacorps while trying to tackle inflation.

It sounds like you're responding to a cryptocurrency talking point. How likely do you think it is that taxation (as in, "nothing is certain except death and taxes") will disappear at some point?

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