This entire thing relies on the federal government having the ability to print money that is not backed by a commodity, and does not owe a significant amount of debt to another country. Taxes on the federal level literally don’t fund anything (note that this is not true of local or state taxes). They exist solely to drive demand for the currency. Instead, the upper limit to government spending is the amount of resources and labor available to the government, which is several trillions of dollars worth more than the federal budget. This is what’s known as the real economy. A single trillion is incomprehensible, hence why I called it “infinite money”.
This entire thing relies on the federal government having the ability to print money that is not backed by a commodity, and does not owe a significant amount of debt to another country. Taxes on the federal level literally don’t fund anything (note that this is not true of local or state taxes). They exist solely to drive demand for the currency. Instead, the upper limit to government spending is the amount of resources and labor available to the government, which is several trillions of dollars worth more than the federal budget. This is what’s known as the real economy. A single trillion is incomprehensible, hence why I called it “infinite money”.