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Handre
@Handre
Economic Historian. Storyteller.
参加 November 2019
5.2K フォロー中    63.4K ファン
War is the health of the state, and every treasury minister in history has known it. Governments that could never justify a peacetime income tax extracted one the moment artillery started firing. Britain imposed its first income tax in 1799, not through principled fiscal debate, but because William Pitt needed to fight Napoleon. The tax was supposed to expire at Waterloo. It came back in 1842 and never left. The people paid for one war and funded a permanent bureaucracy. The pattern repeats with mechanical consistency. Woodrow Wilson signed the Federal Reserve Act in 1913, and within two years the new institution was monetizing war debt on an industrial scale. The inflation tax is the craftiest version of this theft because you never receive a bill. The purchasing power simply drains from your savings while politicians point at commodity markets and shrug. Weimar Germany printed to fund World War One reparations. The Continental Congress printed Continentals to fund the Revolution until "not worth a Continental" became a folk saying about government paper. Rome clipped coins for centuries of military expansion, debasing the denarius from nearly pure silver to a bronze coin with a silver wash. Every episode follows the same logic. Direct taxes provoke visible resistance. Printing money diffuses the pain across every currency holder, spreading the theft thin enough that most victims never identify the thief. Inflation is taxation with superior public relations. War simply gives the state permission to accelerate what it does in peacetime, only faster and without public consent. When you hear the words "emergency powers," you know you are about to be robbed.
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