Re: Mosler Seminar

["James R. Olson, jr." <jhavok@xxxxxxxx>]

At 02:12 AM 3/3/97 -0600, Mason wrote:
>
>8. I confess that I have yet to accept taxes as the sole
>   basis of fiat money.  If the government declares a money
>   legally enforceable "legal tender" for contracts, then
>   aren't taxes simply another contract payable in that
>   money?

The LETS thread has got me chewing on the idea of a state [province] or
county based fiat currency, but the federal mandate that only fedeal notes
are legal tender is a real problem for the idea.  The best I can think of
is that the state could issue "tax credits" and either require or allow a
certain amount of tax liability to be covered by them.  But that implies a
conversion ratio to federal money, and probably would run into the legal
tender restriction.