RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly
"First you're confusing taxes with inflation. Taxes aren't a form of inflation, they are costs to goods and services."
Inflation is a hidden tax, and that means money becomes less valuable. The VAT is a direct tax at the cash register, meaning the price to obtain said products, goods, and services increases overnight. If you want to compare the two, the former is slow, insidious, and destructive, while the latter is instantaneously catastrophic. Let's not split hairs now just because you throw a rotten persimmon at a comedian and he says you threw a tomato; it doesn't change the fact that an assault occurred. I'm speaking to the effect of the VAT, the price to obtain a good or service is artificially inflated because of the added tax.
"The only argument I'll entertain isn't that it'll cause inflation, but that you think it'll guarantee an increase in cost of living."
Isn't it obvious to you that slapping an additional 20% tax on goods and services will increase the cost of living?
"But then again, inflation isn't as simple as you think, and what are you trying to say with something that has nothing to do with how Brazil dealt with their hyperinflation?"
You were speaking to how Brazil dealt with their hyperinflation, the video I linked showed how they got there to begin with.
Ubi has been studied, we know it's effects, it points to the opposite of what you're suggesting, it is not "a peril". You can open your mind, how do you talk about something you seemingly have no clue about?
When you give people a UBI and levy a tax on goods and services to pay for it, it's a silly joke. It would be like if I gave you a 16oz can of dehydrated water that can produce an infinite number of gallons of water for your trip into the Sahara, it wouldn't change the fact that you still have to add water to get it to work. Without the funds to back it up, it's an exercise in futility.
"You think you know how inflation works? Why? And how do you come to that conclusion that you have any clue as to how inflation works, money creation or ubi?"
Inflation arises because of fiat (or fake) money. In ancient Rome, you could buy a fancy tunic and a nice meal with an ounce of gold. Today, you can still buy a fancy suit and a nice meal with an ounce of gold. It's because gold has intrinsic value, and the Federal Reserve cannot duplicate gold.
Ever since June 5, 1933, when Roosevelt took the U.S. off the gold standard, the paper notes had no intrinsic value. The FRNs, no longer backed with precious metals were reduced to simple pieces of ink and paper. By ending the gold standard; the U.S. and the Fed could borrow and inflate the money supply endlessly, without having to worry about pesky gold reserves.
It is this activity which eventually leads to higher prices because there is nothing anchoring value to the banknotes outside of taxation of the citizenry. In short, the fed is the faucet and taxation the sink. I can give you a couple of cartoon shorts that explain inflation and the federal reserve via illustration. Or I could recommend a book on the topic to get you started. This talk right here is also highly recommended.
There's no such thing as intrinsic value of gold. Complete Hogwash.
https://fee.org/articles/the-fallacy-of-intrinsic-value/
Also, gold has suffered from inflation just the same, I could hit you over the head with the 10000 year history of money, most of which, 99. 9% of which was under gold/silver, and which is literally hundreds upon hundreds of failed economies but I suspect you'll not address those facts.
Gold money and it's scarcity is exactly why the colonists declared war. You don't understand where value comes from, you have a simplistic and erroneous notion of how inflation works, and you don't know jack shit about ubi. You can postulate all day long that taxes are theft and that inflation is simply a matter of increasing the supply of money, you couldn't be more mistaken and as I pointed out, this has been studied for half a century now, and the results are as opposed to what you believe as they can be. It does not translate what so ever into increased cost of living, but the opposite, it doesn't need to be funded through taxes, and when it has been funded by taxes it was found that people are more than happy to pay for it as the effects those benefits have on the communities are felt by the taxpayers themselves, shit you could have bothered to research but instead you are trying to argue that "inflation is a matter of printing more money".
When? What? Your video had absolutely nothing to do with what I linked. You don't have any clue about inflation, what ubi is, again, you don't understand money period, saying nonsense like "if a nation does not have money" as nations are what create money, not the fed. You continue with more nonsense, that taxes are theft, that social programs are a peril, so much nonsense that it's not worth debating shit with you. Those that care to learn will do so before opening their mouth about things they have literally no clue about.
I'll respond to this
and the addendum
in the below comment.
http://projects.exeter.ac.uk/RDavies/arian/amser/chrono.html1
10000 years of literary hundreds of failed gold standards and economies, mostly because of inflation but also because of scarcity of money. Two periods in that entire history are marked by prosperity like never before, when money was in the form of tally sticks, and when the colonists were issuing their fiat money.
The intrinsic value of gold, what a bunch of idiotic nonsense that when scrutinized it becomes readily apparent what a myth it is without any basis in reason, logic or reality. The same with "if a nation does not have money". Gosh, those poor nations. "the siren song". Lol, the myth of "inflation is a matter of increased supply" as if money functions like a commodity like gold, or as if gold could Ever be, or has Ever been Sound Money or ANY economy has ever benefited from gold.