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Tell me if I'm dreaming...

Instead of taxing everyone through a complex and cumbersome system, why don't government and central banks just hold back some of the money they print and not release it into circulation?

That way everyone would pay with perfect accord to their means and lifestyle, and the money in circulation would be worth that much more. The administration would be a whole lot cheaper and easier and nobody would ever be able to evade their fair contribution.

Have I missed something?

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Discussion

Orvalho 2y ago

I think you're missing the whole "wealth creation" thing. It's not only about money. It's about wealth. The government can't create wealth, only spend more and more. That's why they need us, private sector, to take the money and multiply the correspondent wealth.

Qno 2y ago

It strikes me that a large public sector is a means to channel fiat into circulation, by paying the only people left with proper terms of employment - public servants - enough that they can leak it out to others by personal spending. Another approach would be small government, pay private sector for essential services only leaving the rest up to individuals, bid for the best deals throwing it out to competition, and appoint treasury to control how the rest flows out to the population through retail banks cutting out central banks altogether.

Qno 2y ago

That last is definitely a pipe dream in this age, but historically is the only government system that ever worked to increase prosperity for everyone.