Tender For Tender – Being Libertarian (blog)
Taxation is theft is an oft-repeated phrase among libertarians, and one that is met with shock, disdain or ridicule from non-libertarians who have not thought about the subject very thoroughly, or who have never questioned the institutions and systems that govern our lives today. But as libertarians, we firmly and actively question the powers and even the very existence of the institutions that govern our lives and the system that gives them life. In keeping with that libertarian virtue, I would like to present a proposal, an alternative if you will, to the present monetary and financial system. I would like, specifically, to present an alternative proposal to the present system of taxation and public spending, which, of course, requires an alternative to our present system of banking and money creation.
In a truly libertarian society, there would be no taxation of any kind. The main purpose of taxation is to garner public funds for public spending. Of course, most of that public revenue goes to service interest on government borrowings. It may also be noted that it is immoral to take from the earnings of people, stealing from the fruits of their labours or ingenuity for whatever purpose or activity. And at the same time, just as it is ridiculous for a sovereign government to borrow money, I believe it is equally ridiculous for a sovereign government, under a fiat monetary system, to have to rely on taxation for funds to finance public works.
I believe in government issued fiat money; I do not believe gold or the gold standard would allow for mobility and prosperity in todays world because so much gold today is concentrated in so few hands, and central banks have helped to confiscate gold over to the International Monetary Fund (IMF) for loans to their respective countries. So, let me present my simple and humble proposal for an alternative to the present monetary system, banking system, taxation and public spending. I hope I can keep it simple and I will do so in the following points:
I believe this is one way to fund public works and circulate money without debt or taxation, and it also provides a healthy way to check inflation and deflation. It also allows normal banking practices such as lending and depositing, but all private business must be transacted on the sole risk of the concerned parties. Hence, interest rates on deposits may even be 0, depending on the creativity and business skill of the concerned bank.
* Kitdor Halari Blah was raised and lives in Shillong, India, and is a graduate in commerce from St. Anthonys College. Presently serving in a Regional Rural Bank as Manager.
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Tender For Tender - Being Libertarian (blog)