Re: "state theory of money"

["Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>]

Really, what does that have to do with the State Theory of Money?
STM does not argue for high taxes.  In fact, it argues against government budget surpluse because it
necessarily withdraw credit from the system.

Henry C.K. Liu

"William B. Ryan" wrote:

> Is this the "state theory of money" in action?
>
> >From today's (May 13) Washington Post http://www.geocities.com/new_economics/worked-til-they-drop.htm
>
> "...The economics are simple, residents said. People in Xiaoeshan eat
> most of what they grow, and by selling the rest they earn an average
> annual income of about $25 each. But local officials demand about $37
> per person in taxes and fees. Several peasants who refused to pay last
> year were arrested. Residents say there is only one way to survive: Pull
> the children out of school, and later send them to find work in faraway
> cities."
> ---
>
> The danger is that it provides "Western" rationale for such oppression.
>  After all, it is advocated in the pages of the JPKE!
>
> --
> William B. Ryan
> william_b_ryan@xxxxxxxxxx - email
> voicemail/fax - 1-866-678-3967 - toll free
>
>