In the world of economics, there is a lot of speculation about the future of the financial system, especially in terms of government taxation and spending. One interesting topic that has been circulating recently is the idea of eliminating income taxes at the federal level. This concept, which was proposed back in the ’90s, has resurfaced recently with President Trump discussing the possibility of getting rid of income taxes.
At Extreme Investor Network, we believe that this idea is worth exploring further. In today’s digital age, money is no longer tangible like it was in the past when it was backed by gold and silver. With the shift towards digital currency, the need for income taxes at the federal level has become obsolete. The traditional concept of taxes being used to cover government spending no longer applies, as the state can simply create money out of thin air.
Another important factor to consider is the issue of borrowing. In the past, states would borrow money to cover expenses, which would be less inflationary than creating new money. However, in today’s financial landscape, borrowing has become unsustainable. Paying interest on money that is not tangible only contributes to the growing debt burden, which can ultimately lead to a collapse of the financial system.
This topic will be further discussed at this year’s WEC, where experts will analyze the implications of the current financial situation and what can be done to address these challenges. If you are interested in learning more about these issues, we encourage you to attend the event virtually, as hotel rooms are already sold out.
Stay tuned to Extreme Investor Network for more insights and analysis on the latest trends in the world of economics and finance. Our team of experts is dedicated to providing you with unique and valuable information to help you make informed investment decisions.