The Magic Money Dispenser: Who Really Pays Taxes

This is the final part of a five part series. You can read part one, two, three, and four by clicking on the links.

In the last post we looked at the role of government and peoples desires, but this point may actually impact you the most.

The Magic Money Dispenser: What Government Does Do

Image by Pixabay

This is the fourth part of a five part series. You can read part one, two, three, and five by clicking on the links.

Previously, we talked about government money and the concept of wealth. Let’s get back to the idea that government CREATES nothing. The better phrase would be, the government creates no wealth, it takes and consumes wealth, and moves it around—redistribution.

Government can “make” money through printing (the hip new phrase is “monetization”) and has a huge influence on its value. The Fed affects the value through restricting and expanding the amount of money available in the economy, but it cannot assign how much wealth a dollar can buy at any given time.

The Magic Money Dispenser: Wealth – An Important Concept

Image by Pixbay

This is the third part of a five part series. You can read part one, two, four, and five by clicking on the links.

In this post we’ll discuss the concept of wealth. Quite honestly, I am still trying to fully understand wealth, but I’m going to take my best stab at explaining it. Following is a definition of wealth:

All material things produced by [physical and mental] labor for the satisfaction of human desires and having exchange value.