High inflation will fix this: it balloons the USD denominated GDP, so very soon this will be less than 100%. At the same time, the US will export inflation to other countries, since products are denominated in inflated dollars, and pressure them to live with high inflation as well, ultimately forcing the value of other currencies down with respect to the dollar.
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High inflation will fix this: it balloons the USD denominated GDP, so very soon this will be less than 100%. At the same time, the US will export inflation to other countries, since products are denominated in inflated dollars, and pressure them to live with high inflation as well, ultimately forcing the value of other currencies down with respect to the dollar.
Inflation is the new taxation.
It's the ultimate flat tax!