Ok freepers - sometimes you have to mock these geniuses to their faces -
Please sign and help promote the following White House Petition:
Produce a Trillion Dollar Coin for Every U.S. Citizen for the Purpose of Paying Taxes
Activities and services pledged by the U.S. government exceed the ability to pay based on current tax revenue. The budget deficit is added to the national debt, and federal taxes are used in part to pay for the debt and interest.
“Trillion dollar” coins are being considered to pay the national debt, however, we petition the U.S. Government to mint an adequate quantity of “trillion dollar” coins to pay off the national debt, and enough additional coins to provide one for each citizen of the United States.
These coins can only be used to pay federal, state, and miscellaneous taxes for the lifetime of the recipient. Residual funds from each coin will be available to heirs of the recipients, and will be exempt from inheritance tax.
Heck nobody used those Suzy B’s. There’s got to be a couple 100 billion of them lying around. Of course we’d need an army of container ships to haul them to China.
Might not be worth it.
Please explain to me how the government is going to get procure $1T worth of precious metals without raising the debt by $1T? The economics do now work out.