Subject: Re: Biden's billionaire tax rate fact checked
Absurd. Money is both a store of value and a medium of exchange. If I am a billionaire and my underlying assets are appreciating at 15% per year, and I can get a loan on those assets at 5% a year, I could live like a king on nothing but debt. Zero income, zero taxes, and all the Net Jet miles borrowed money can buy. - Phoolish

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By that line of reasoning, potential energy and kinetic energy are the same thing...


NO, remember the islanders with the big circle of stone money? They'd stick it into a dugout and paddle it from island to island when it changed hands. One day they slipped up and it sank to the bottom of the bay. Everyone knew it was there. Rather than stop the economy, they would simply reassign who owned the circle of stone at the bottom of the bay. Everyone knew it was there and who owned it.