A simple question.

[Indeependent]

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

I can actually believe that Federal Tax Dollars are nothing more than data.
I can actually believe that this data is transferred to various entities.
I can actually believe that physical bills need not be printed.
And so?

You should be able to see my view, and the view of others, on taxes at this point if you recognize all of the above.

So Taxes are nothing more than data being transferred from one entity to another.
How does that result in data not being transferred electronically to make Federal payments.
I have Direct Deposit and have Zero need to use Physical currency.

The government subtracts then they tax, do you believe they actually subtract it to add it to another account?
Look back to my FICA example.

What's the Ledger Entry for the Subtraction?

 

[Dovahkiin]

Before we continue, I assume you're referring to physical bills when you say cash?
Simple, because we the people want them.

Yes, I am referring to physical bills.
We want physical bills to be printed but they never see the light of day?

They do see the light of day though.
The government doesn't need physical bills to add numbers to accounts..
Let's take, for example, a $100 dollar bill. People withdraw this physical bill from a bank and the numbers in their balance are reduced by 100. The $100 bill is simply a paper withdrawal slip. The us govt doesn't "print money" when it wants to spend. We the people want something physical to exchange.

I am of the opinion that physical currency is quickly going the way of the dinosaur.

I agree. But here's what physical currency really is: Pieces of paper representing numbers called "US dollars" that were already issued by the govt, because we the people want numbers in the form of withdrawal slips with numbers on them.

I see no problem with that.
As a New Yorker I can tell you that fewer people want to hold physical money.
Apps are doing a great job of managing assets.

Also: Federal tax dollars do not provide the us govt with an "income."
Collected federal taxes are destroyed, and I forgot to mention this, replaced through net spending if federal spending is greater then the amount destroyed in taxation.

 

[Moonglow]

Step back...
Federal Taxes are paid via electronic transfer.
Some building somewhere is holding printed Cash.
The cash equal to the amount paid electronically is burned.
When was that money printed?
BEFORE the Fed had the totals to know how much to burn?
AFTER the Fed had the totals to know how much to burn?

Yes, some building is indeed holding printed cash. Do you actually believe the government goes to a building with printed cash and takes it to pay for things? Please. The government simply credits bank accounts with numbers.

Why is it necessary to burn the cash?
Why not simply print the cash necessary to go out the bank branched and ATM machines?

What makes you think they're burning all of the cash? I've never said this.

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

 

[Dovahkiin]

Yes, some building is indeed holding printed cash. Do you actually believe the government goes to a building with printed cash and takes it to pay for things? Please. The government simply credits bank accounts with numbers.

Why is it necessary to burn the cash?
Why not simply print the cash necessary to go out the bank branched and ATM machines?

What makes you think they're burning all of the cash? I've never said this.

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

 

[Dovahkiin]

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

I can actually believe that Federal Tax Dollars are nothing more than data.
I can actually believe that this data is transferred to various entities.
I can actually believe that physical bills need not be printed.
And so?

You should be able to see my view, and the view of others, on taxes at this point if you recognize all of the above.

So Taxes are nothing more than data being transferred from one entity to another.
How does that result in data not being transferred electronically to make Federal payments.
I have Direct Deposit and have Zero need to use Physical currency.

The government subtracts then they tax, do you believe they actually subtract it to add it to another account?
Look back to my FICA example.

What's the Ledger Entry for the Subtraction?

It's common sense. I meant to say "when" they tax by the way, if that led to a misunderstanding.

 

[Moonglow]

Why is it necessary to burn the cash?
Why not simply print the cash necessary to go out the bank branched and ATM machines?

What makes you think they're burning all of the cash? I've never said this.

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

So you have access to all levels of the government? Including the mayo jar on Funk and Wagnels front porch where real secrets are kept?

 

[Indeependent]

Yes, I am referring to physical bills.
We want physical bills to be printed but they never see the light of day?

They do see the light of day though.
The government doesn't need physical bills to add numbers to accounts..
Let's take, for example, a $100 dollar bill. People withdraw this physical bill from a bank and the numbers in their balance are reduced by 100. The $100 bill is simply a paper withdrawal slip. The us govt doesn't "print money" when it wants to spend. We the people want something physical to exchange.

I am of the opinion that physical currency is quickly going the way of the dinosaur.

I agree. But here's what physical currency really is: Pieces of paper representing numbers called "US dollars" that were already issued by the govt, because we the people want numbers in the form of withdrawal slips with numbers on them.

I see no problem with that.
As a New Yorker I can tell you that fewer people want to hold physical money.
Apps are doing a great job of managing assets.

Also: Federal tax dollars do not provide the us govt with an "income."
Collected federal taxes are destroyed, and I forgot to mention this, replaced through net spending if federal spending is greater then the amount destroyed in taxation.

This is where I am lost, and that's OK.
Federal Taxes are accumulated into TotalAccount.
TotalAccount may be feeding x number of more discreet defined SubAccount thus subtracting from the TotalAccount
TotalAccount itself may not pay bills, but SubAccount may pay a bill.

 

[Dovahkiin]

What makes you think they're burning all of the cash? I've never said this.

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

So you have access to all levels of the government? Including the mayo jar on Funk and Wagnels front porch where real secrets are kept?

Of course not. But I have yet to see any evidence showing me I'm wrong. Look to my FICA post and seriously read it over.

 

[Moonglow]

I admit you're confusing me.
You stated that cash is printed to match the Federal Tax total.
You stated this amount of cash is then burned?
If not burned, what happens to it from preventing it from being circulated?

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

So you have access to all levels of the government? Including the mayo jar on Funk and Wagnels front porch where real secrets are kept?

Of course not. But I have yet to see any evidence showing me I'm wrong. Look to my FICA post and seriously read it over.

Can I see your credit report?

 

[Dovahkiin]

They do see the light of day though.
The government doesn't need physical bills to add numbers to accounts..
Let's take, for example, a $100 dollar bill. People withdraw this physical bill from a bank and the numbers in their balance are reduced by 100. The $100 bill is simply a paper withdrawal slip. The us govt doesn't "print money" when it wants to spend. We the people want something physical to exchange.

I am of the opinion that physical currency is quickly going the way of the dinosaur.

I agree. But here's what physical currency really is: Pieces of paper representing numbers called "US dollars" that were already issued by the govt, because we the people want numbers in the form of withdrawal slips with numbers on them.

I see no problem with that.
As a New Yorker I can tell you that fewer people want to hold physical money.
Apps are doing a great job of managing assets.

Also: Federal tax dollars do not provide the us govt with an "income."
Collected federal taxes are destroyed, and I forgot to mention this, replaced through net spending if federal spending is greater then the amount destroyed in taxation.

This is where I am lost, and that's OK.
Federal Taxes are accumulated into TotalAccount.
TotalAccount may be feeding x number of more discreet defined SubAccount thus subtracting from the TotalAccount
TotalAccount itself may not pay bills, but SubAccount may pay a bill.

What makes you think federal taxes are accumulated and not destroyed? Recorded numbers? I mean, I guess...

 

[Dovahkiin]

If you count "printing" as adding numbers to bank accounts...
I never said "cash is burned" in amounts equal to the tax total.
Look, here is my point: Federal tax revenue doesn't actually "fund" anything.

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

So you have access to all levels of the government? Including the mayo jar on Funk and Wagnels front porch where real secrets are kept?

Of course not. But I have yet to see any evidence showing me I'm wrong. Look to my FICA post and seriously read it over.

Can I see your credit report?

I don't think your understanding. The govt can simply add numbers to an account without taking from elsewhere, it does this all the time.

 

[Indeependent]

My Ambien is kicking in and my keyboard is coming alive.

 

[theliq]

Can anyone cite an example of a sovereign nation using non-convertible, non-pegged, free-floating currency that has defaulted on debt denominated in their currency?

Not so simple answer.......https://www.quora.com/At-what-point-does-national-debt-become-unsustai...

steve

 

[Moonglow]

My Ambien is kicking in and my keyboard is coming alive.

Mine make me race....

 

[Dovahkiin]

Can anyone cite an example of a sovereign nation using non-convertible, non-pegged, free-floating currency that has defaulted on debt denominated in their currency?

Not so simple answer.......https://www.quora.com/At-what-point-does-national-debt-become-unsustai...

steve

Page Not Found
We searched everywhere but couldn't find the page you were looking for.
So the OP is correct? From what I can see in the URL, it doesn't have any examples.

 

[Dovahkiin]

My Ambien is kicking in and my keyboard is coming alive.

Share?

 

[Indeependent]

Monitor looks so 4 dimensional.

 

[Indeependent]

Continue tomorrow..

 

[theliq]

Can anyone cite an example of a sovereign nation using non-convertible, non-pegged, free-floating currency that has defaulted on debt denominated in their currency?

Not so simple answer.......https://www.quora.com/At-what-point-does-national-debt-become-unsustai...

steve

Page Not Found
We searched everywhere but couldn't find the page you were looking for.
So the OP is correct? From what I can see in the URL, it doesn't have any examples.

What about when the Russia defaulted some years ago....and Greece with the Euro ????steve

 

[Moonglow]

Tax refunds....

So the government adds dollars to an account.. I have yet to see a record showing tax dollars go to this.

So you have access to all levels of the government? Including the mayo jar on Funk and Wagnels front porch where real secrets are kept?

Of course not. But I have yet to see any evidence showing me I'm wrong. Look to my FICA post and seriously read it over.

Can I see your credit report?

I don't think your understanding. The govt can simply add numbers to an account without taking from elsewhere, it does this all the time.

Well sure, why not? Unless you were to run on a solid dollar amount available per calendar year. Which how they fund departments and the Army units...I twas in....There is a fluid functional petty cash fund, discretionary spending, for snack related mishaps...