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Thread: Profits Do Not Cause Inflation: Causal Fallacies as Economic Disinformation

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    Newpublius's Avatar Senior Member
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    Quote Originally Posted by jes'fuchinwitcha View Post
    Can you please take us step by step through how increasing the money supply caused that significant inflation?
    Imagine for one moment if the supply of gold was such that it became 10x more common than copper. I dunno, maybe the alchemists finally figured it out, right? Possible or not the thought experiment stands. What happens to the price of gold? It would obviously go down, right?

    Now let's go one step further and imagine that gold were money itself. Not too hard to imagine because there was a gold standard. What happens to the value of money, in this case, relative to all other goods and services? Still goes down and that value going down would be inflation because inflation really just results in the value of any given unit of money going down. Whether its a fiat dollar or an ounce of gold there's no difference in result here.

    When you increase the supply of something relative to all other things (the relative here is important), the value of that thing will go down.

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    Quote Originally Posted by Chuck View Post
    Who's punishing anybody?They're paying for privileges and exemptions provided by govt. Following the dollar? It's two different persons paying taxes on two different incomes, no different than a worker paying taxes on their wages and the being taxed on their spending. Your analogies are are false. If anybody should not be taxed, it's wage earners; wages aren't income, they're barter.


    As I said, they want to hide behind govt.to protect their incomes, they can pay for the special privileges. Business owners are responsible for their businesses, so they can pay all the costs if they want to reap all the rewards; if they want special protections, they can pay for the privileges extended by govt. for their stop-loss, same as commodities gamblers do when they want them.

    I think perfectly fine. 'Corporate personhood' means your company is a separate fictional 'person' that takes the hit when you fail at business and go bankrupt, and you get to keep your house and personal assets, i.e. it's a stop/loss provided by the govt. If you're a real 'freemarket fan,
    then you take responsibility for that failure and pay the debts and losses according to your share of ownership in that business. Doesn't matter if it's divided into are 100 shares or 1 billion; same with criminal fines, lawsuits, etc.
    Ar you joking Chuck. Without businesses we could only have a volunteer government. Work creates income, which pays taxes. Government takes.
    Let's go Brandon !!!

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    Quote Originally Posted by Chuck View Post
    'Corporate personhood' means your company is a separate fictional 'person' that takes the hit when you fail at business and go bankrupt, and you get to keep your house and personal assets, i.e. it's a stop/loss provided by the govt. If you're a real 'freemarket fan, then you take responsibility for that failure and pay the debts and losses according to your share of ownership in that business. Doesn't matter if it's divided into are 100 shares or 1 billion; same with criminal fines, lawsuits, etc.
    Many lenders actually will require a personal guarantee for smaller corporations/businesses.

    The thing is for many publicly traded corporations banks make loans to corporations like IBM or perhaps we should say Enron, right? Or Chrysler, or old GM is that loans are made knowing there won't be recourse to seeking reimbursement from your 401k plan.

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    LWW (02-07-2024)

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    Quote Originally Posted by Newpublius View Post
    Imagine for one moment if the supply of gold was such that it became 10x more common than copper. I dunno, maybe the alchemists finally figured it out, right? Possible or not the thought experiment stands. What happens to the price of gold? It would obviously go down, right?

    Now let's go one step further and imagine that gold were money itself. Not too hard to imagine because there was a gold standard. What happens to the value of money, in this case, relative to all other goods and services? Still goes down and that value going down would be inflation because inflation really just results in the value of any given unit of money going down. Whether its a fiat dollar or an ounce of gold there's no difference in result here.

    When you increase the supply of something relative to all other things (the relative here is important), the value of that thing will go down.
    It is wholly unfair to use verifiable truth and fact against arguments posited by those who have n ver read a book on economics.
    "Buy a man eat fish, the day, teach a man to a life time! "
    "As one computer said, if
    you're on the train and they say 'PORTAL BRIDGE' you know you better make other plans."
    - Joseph Robinette Biden -

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    Quote Originally Posted by LWW View Post
    Did those answer your questions Jes?
    It appears that Jes took a ten count after being hit with the heavy one-two heavy leather of truth and fact.
    "Buy a man eat fish, the day, teach a man to a life time! "
    "As one computer said, if
    you're on the train and they say 'PORTAL BRIDGE' you know you better make other plans."
    - Joseph Robinette Biden -

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    Quote Originally Posted by Newpublius View Post
    Imagine for one moment if the supply of gold was such that it became 10x more common than copper. I dunno, maybe the alchemists finally figured it out, right? Possible or not the thought experiment stands. What happens to the price of gold? It would obviously go down, right?

    Now let's go one step further and imagine that gold were money itself. Not too hard to imagine because there was a gold standard. What happens to the value of money, in this case, relative to all other goods and services? Still goes down and that value going down would be inflation because inflation really just results in the value of any given unit of money going down. Whether its a fiat dollar or an ounce of gold there's no difference in result here.

    When you increase the supply of something relative to all other things (the relative here is important), the value of that thing will go down.
    In reality you can control printing of dollars.
    But you can't stop people from making gold if the alchemists get lucky or the miners invent a gold finder stick.

    The printed dollar done responsibly has better control. You can control supply.
    Let's go Brandon !!!

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    Quote Originally Posted by LWW View Post
    It is wholly unfair to use verifiable truth and fact against arguments posited by those who have n ver read a book on economics.
    It reflects the lack of faith in the US Treasury with good reason.

    Some would rather gamble on a larger supply of gold will not be found than believe in Janet Yellen.

    So let's raise our hands if we trust Janet Yellen, the Fed and the US Government. I don't see any hands.
    Let's go Brandon !!!

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    Quote Originally Posted by carolina73 View Post
    You can't think straight on this one. You have to follow the dollar. The profit dollar is pretaxed at the corporate level and then again as it is dispersed to the investors.

    Its no different that if they taxed your pay once at the employer and then taxed you for it again when you received the pay.

    ***
    Everyone pays the sales taxes and fees at the same amount. They are actually a form of flat/fair tax.
    The wealthy pay more because they consume more.

    ***
    If you view tax as a form of punishing people then you are running your life by envy. That is not only unhealthy but also leads to poor decision making.
    A few
    points

    1) The tax code is purely and simply a product of congressional influence for sale and vote pandering
    2) A few rules followed by thousands of pages of exceptions and even some theory
    3) Much, much, much fairer, simpler, predictable and less expensive means to collect taxes exist
    4) One such way is to get rid of deductions, have everyone pay their bracket and usually have little if any to pay in or get back. Therefore no surprises .But add a $50.00 minimum so that everyone has skin in the game. Even teens with summer jobs, no better way to get their heads in the game that is politics.
    5) Corporate taxes are, without exception, a hidden tax on the people. And few in politics have the balls to say so.
    Last edited by donttread; 02-07-2024 at 08:50 AM.

  10. #179
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    Quote Originally Posted by carolina73 View Post
    In reality you can control printing of dollars.
    But you can't stop people from making gold if the alchemists get lucky or the miners invent a gold finder stick.

    The printed dollar done responsibly has better control. You can control supply.
    That's true but history has shown that you can trust the gold miners much more than you can trust the government with the printing press.

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