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this post was submitted on 28 Jan 2025
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I'm not in the US but one of my fav comments over this on another app said well if they're going to freeze our tax money like this and stop distributing it to social programs and so on, why are we paying our taxes?
It's a good point. A widespread tax strike would fuck this administration up.
While the dollar hegemony remains, unfortunately the US government can literally just print more money and be fine for a while.
Granted that's probably going to implode too if this kind of shit keeps up.
I think they're pissing off enough international heads of state that all it would take is a bunch of the largest to recall their debts and it would sink that strat pretty fucking quick. Tariff wars won't be kind to the US. I don't know what they think they have of value in this case. Moviefilms? The tech companies?
They still make cars I guess? Do tariffs apply to financial services 😂
Money only really works if people want what you're selling
That would be absolutely hilarious if all this results in Trump implicitly arguing that MMT is real.
If you are a worker, income taxes are deducted already, right? You don't have a choice. And you don't have the choice to not be paid in Dollars, all the corps only accept dollars.
And in the US there is a ton of private debt (mortgage, healthcare, student loan debt) all help with demand for Dollars.
For the Sovereign (US Federal Government), taxes are one way to create demand for Dollars which they make (first) and allow banks to make.
Not likely with regards to individuals, but I could see state and local governments withholding tax dollars taken out of public employees’ checks from going to the feds.
That would be sick
For sure, regional departments could do it. It would take a lot for individuals to get on board but it has happened before. Also I read from a fairly credible source that the *UAW is already working to organize a general strike for 2028 (wish it was sooner) as a way to push OrangeMeng out of office if it comes to that. I haven't verified but fuck I hope so.
I think it was Sean Fain of the UAW that initially proposed that
Thank you, I believe you're right. I read about it in a Robert Evans piece last week.