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Taxing, Borrowing, and Printing: Three Ways America Pays for Government
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Taxing, Borrowing, and Printing: Three Ways America Pays for Government
Government is expensive, and America is running up the bill to the tune of $40 trillion. Every April, Americans are reminded of this basic truth. On April 15, the IRS forces citizens to confront what the government takes directly from their income. But taxation is only one way Washington finances itself. It also borrows on a massive scale and operates within an inflationary monetary environment that quietly erodes the purchasing power of the dol…
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