Keith Evans
1 min readMar 12, 2021

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The reluctance to pay off student debt from legislators is only due to the fact that they prefer to perpetuate the myth of federal taxes paying for government. If they casually wrote off the debt the voters might be inclined to know why they can't have nice things like so many other countries that don't think twice about paying to educate their citizens. They might actually want a government that "does things" that benefit them and the society they live in.

The truth is that the US Congress, having a monopoly patent on the US dollar, can afford anything that is for sale and priced in dollars. It can never "go broke" or fail to pay any obligation in dollars, even without a dime of "revenue". Taxation doesn't fund anything. It simply removes excess money from circulation to control inflation. Federal spending is self-funding when new dollars are created. The "choice" to force bond sales to match those new dollars created is just that, a choice, not necessity.

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Keith Evans
Keith Evans

Written by Keith Evans

Meandering to a different drummer.

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