My problem with Liz Truss is nearly identical to my problem with most American Republicans.

in liz •  2 years ago 

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Tax cuts without spending cuts while running deficits aren’t tax cuts at all. They’re transfers, like what our courts are currently considering with student loan payments.

Yes, the most visible taxes may be things like capital gains, corporate, excise, income… and ideally all could be cut. But functionally, inflation via monetary expansion is a tax, interest payments incurred through government borrowing is a tax, and even if somehow borrowing could be done without interest, it would still be a tax on future generations.

I’m an American, and a libertarian, so of course I despise the theft of direct taxation. But indirect taxation is even worse, because it dishonestly hides its’ cost from taxpayers, and regressively hits the weakest the hardest.

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