I have been told that since the US came off the gold standard, unlimited amounts of money can be printed, that taxation is unnecessary but is levied to give credibility to the currency, that austerity is unnecessary, tuition could be free and the infrastructure could be repaired. I was told that income from taxation is effectively cancelled or taken out of circulation with regard to the Federal government since they exclusively print the dollar. Can you enlighten me on the true situation!
Since the US came off the gold standard, unlimited amounts of money can be printed!
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