Comment: Lots of lovely arguments for and against this

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Lots of lovely arguments for and against this

and lots more that don't justify the very existence of a given tax.

How about we tax LIEs? Not falsehoods, although that would be fun, but Leveraged Investment Earned or Leveraged Income Earned. Basically, if you use borrowed money to multiply it, you pay a tax. This means that anything productive and saved/asset based wouldn't get taxed while activities like fractional reserve banking, high finance things like shorting or derivatives and even money printing by the FED would get taxed.

The justification is that since these activities aren't productive and instead create money from nothing (inflationary), they deserve to pay for profit to compensate for the losses imposed on the productive and the savers.

Looking at the numbers just roughly, a 1% tax on the $1.5 quadrillion derivative market would pay off the national debt in 1 year and a 0.1% tax would keep it paid off each following year.