What if we had a country where the government funded itself with tariffs and all direct taxes were eliminated? Instead of paying interest to a central bank for money creation, we would create non-interest-bearing treasury notes. The government is reduced in size to align with the explicit restrictions on federal power in the Constitution. Inflation would no longer exist with the currency backed by gold. We had such a government before in the late 1800s, and it led to the "roaring 20s."
|