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A #Bitcoin 
Standard is going to undermine the government’s ability to finance spending in multiple ways:
1. The Fed can no longer print money to purchase Treasury debt.
2. Higher interest rates will make government borrowing more expensive.
Standard is going to undermine the government’s ability to finance spending in multiple ways:1. The Fed can no longer print money to purchase Treasury debt.
2. Higher interest rates will make government borrowing more expensive.
3. Harder money disincentives frivolous consumer spending, leading to less sales tax revenue.
4. Harder money incentives minimization of the income tax burden by any means possible (evasion or avoidance).
5. Deflate the real estate bubble, reducing property tax revenue.
4. Harder money incentives minimization of the income tax burden by any means possible (evasion or avoidance).
5. Deflate the real estate bubble, reducing property tax revenue.
6. Deflate the asset bubble, reducing capital gains tax revenue.
In other words, #Bitcoin will lead to a drastically smaller government (if not the total dissolution of large nation-states).
In other words, #Bitcoin
will lead to a drastically smaller government (if not the total dissolution of large nation-states).
Oh, and how could I forget:
7. Steady deflation from productivity growth reduces people’s nominal incomes over time, pushing them into lower tax brackets (assuming a progressive income tax system), even as their purchasing power rises.
7. Steady deflation from productivity growth reduces people’s nominal incomes over time, pushing them into lower tax brackets (assuming a progressive income tax system), even as their purchasing power rises.
I'd like to know if @stephanlivera thinks any of this is wrong.
