Alternative Method of Taxation

 

Tanner is an AP Micro/Macro student who is interested in taking economic concepts beyond what we do in class and extending them in new and unusual ways. 

He recently approached me with the idea of eliminating direct taxes, and instead explicitly using a decrease in the purchasing power of money as a way to harvest revenue for governmental use. 

I asked a mathematics educator (Mike Schmidt) to sit in with me while Tanner explained his ideas. I recorded the discussion and here it is. I think we all agree that at best we are in the idea/brainstorm phase throughout the discussion, and yet it could serve to help others think about innovative ways to improve our economic system.