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How the US Government Will Force Banks to Fund the Deficit | Charles Calomiris

Hidden Forces

CHAPTER

How to Lower the Inflation Rate

When you say the tax rate, what are you referring to here? You're referring to the inflation rate. And then with the tax rate at something like 10%, or maybe 11 or 12%, but you get the point, much lower. The point of the inflation tax is for the government to have an outstanding amount of IOUs that it doesn't have to pay any interest on and that interest savings is a resource for the government that can fund the deficits.

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