Quote:
Originally Posted by Ark2
Look at it this way: Say you need $100,000 to buy a house. Under this proposed idea, you would go to the government, who would issue bonds worth $100,000 to the Bank of Canada. The Bank of Canada would then print and hand over $100,000 in Canadian currency to you. You would then, repay the government the $100,000 at no interest. There are several reasons that this would not work:
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You could pay interest, ...to the government(the people), who then invests the money into health, education, infrastructure etc...
...which would result in lower income taxes....or maybe even NO income tax.