Instead of levying taxes, why not have the government just print money?

Question

Here's the plan:
1) Eliminate the income tax completely.
2) Pass a Constitutional amendment allowing the government to print money for its own use. The amount is limited and must be approved by a 3/4 vote of congress.
3) The government creates the allowed amount of money and spends it.

Results:
1) No one has to pay income taxes. Millions of hours of work are saved.
2) Everyone gets taxed, even criminals, because the printing of money causes a decrease in the value of the dollar, which affects everyone.
3) The ability to give special people tax breaks disappears.

Possible objections:
Yes, but it causes inflation. That's bad.

No, it's not bad, as long as it is controlled. Everyone will know exactly what the inflation effect will be and can act accordingly.

Answer 1

I know this is not waht you want to hear but,
There are many governements in the world that do this and it has always ended up leading to staggering inflation and devaluation of their currency as compared to other currencies.
Even if ti is controlled, as soon as a country that does not print more money such as the US announces even a potential plan to print more money the currency loses value even if the amount to be printed is not enought to really make a difference. Furthermore, because US currency is so stable and we don't print more money there are many countries who peg their currency to ours and effectively back their currency with USD. If we printed more money their economies would completely collapse.
No one, even rich liberals like John Kerry and the Kennedys, actually wants to pay taxes and any effort to reduce taxes is helpful because it adds more money to the money supply.

Answer 2

a good question which i'm taken aback doesn't get requested more advantageous typically... The economic gadget is all about furnish & call for, almost continuously call for. to purchase one merchandise that you call for, you commerce some thing which the different social gathering values, frequently money. money is a note this is meant to characterize a unit of fee. The more advantageous ample money is, the a lot less that is properly worth. 50 years in the past, each and each and every dollar somewhat represented one percentage of each and each and every of the gold which replaced into held with techniques from the U. S. authorities. Why is gold useful? because there is in elementary words XXX quantity of it. a similar is actual of money. If the authorities were to easily save printing more advantageous money, the money furnish ought to become so large that it ought to become a lot less & a lot less useful. To compensate, products become more advantageous expensive & it is inflation. the authorities must be compelled to print even more advantageous money to pay its costs. A vicious cycle ensues. there's a rustic in Africa attempting your theory as we talk (ZImbabwe?). Their inflation price for 2008 replaced into drawing near a million Billion p.c.. actually the cost of each and everything replaced into doubling virtually each day because the authorities replaced into printing a lot money.

Answer 3

the more money flot out there the lower the value each bill is. supply and demand, if there is 10 time more bill than value of each bill is decreased by 10 time(estimate)
if goverment print their money than adding it on to their debt than it is going to be ALOT.
no one pay tax= no army, police, public service like school( rough estimate)
I AM PRO " no income tax" but it is needed.

Did you answer the quiestion you ask?

Answer 4

my grandparents went through this at the end of world war 1 in Germany. the government printed so much money to pay the bills that they had to have a wheel barrel full of money just to buy a loaf of bread.

Answer 5

“We can't solve problems by using the same kind of thinking we used when we created them.” - Albert Einstein

Like Ying and Yang... you gotta have a balance.

.pEace.