RE: RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly
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RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly

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"First you're confusing taxes with inflation. Taxes aren't a form of inflation, they are costs to goods and services."

Inflation is a hidden tax, and that means money becomes less valuable. The VAT is a direct tax at the cash register, meaning the price to obtain said products, goods, and services increases overnight. If you want to compare the two, the former is slow, insidious, and destructive, while the latter is instantaneously catastrophic. Let's not split hairs now just because you throw a rotten persimmon at a comedian and he says you threw a tomato; it doesn't change the fact that an assault occurred. I'm speaking to the effect of the VAT, the price to obtain a good or service is artificially inflated because of the added tax.

"The only argument I'll entertain isn't that it'll cause inflation, but that you think it'll guarantee an increase in cost of living."

Isn't it obvious to you that slapping an additional 20% tax on goods and services will increase the cost of living?

"But then again, inflation isn't as simple as you think, and what are you trying to say with something that has nothing to do with how Brazil dealt with their hyperinflation?"

You were speaking to how Brazil dealt with their hyperinflation, the video I linked showed how they got there to begin with.

Ubi has been studied, we know it's effects, it points to the opposite of what you're suggesting, it is not "a peril". You can open your mind, how do you talk about something you seemingly have no clue about?

When you give people a UBI and levy a tax on goods and services to pay for it, it's a silly joke. It would be like if I gave you a 16oz can of dehydrated water that can produce an infinite number of gallons of water for your trip into the Sahara, it wouldn't change the fact that you still have to add water to get it to work. Without the funds to back it up, it's an exercise in futility.

"You think you know how inflation works? Why? And how do you come to that conclusion that you have any clue as to how inflation works, money creation or ubi?"

Inflation arises because of fiat (or fake) money. In ancient Rome, you could buy a fancy tunic and a nice meal with an ounce of gold. Today, you can still buy a fancy suit and a nice meal with an ounce of gold. It's because gold has intrinsic value, and the Federal Reserve cannot duplicate gold.

Ever since June 5, 1933, when Roosevelt took the U.S. off the gold standard, the paper notes had no intrinsic value. The FRNs, no longer backed with precious metals were reduced to simple pieces of ink and paper. By ending the gold standard; the U.S. and the Fed could borrow and inflate the money supply endlessly, without having to worry about pesky gold reserves.

It is this activity which eventually leads to higher prices because there is nothing anchoring value to the banknotes outside of taxation of the citizenry. In short, the fed is the faucet and taxation the sink. I can give you a couple of cartoon shorts that explain inflation and the federal reserve via illustration. Or I could recommend a book on the topic to get you started. This talk right here is also highly recommended.

@thoughts-in-time: "First you're | Ecency