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I want to do an experiment okay this is my this is my world now this is my country well path of you are going to be my country this is the country of Cal tonyia I am the government I have the taxing authority I also have a standing army courts prisons and so forth half of you are my domestic private sector youre the households and the businesses in the nation of Cal tonyia youre all subject to attacks in this great country and so lets say 200 Cal Tonys you have to pay me 200 Cal Tonys this year okay what does that mean if we record this on balance sheets it means now youre in debt to me right I have an accounts receivable I have taxes do you have a debt and I just reduced your net worth now lets settle the obligation go ahead and pay your taxes you cant what do you mean you cant you cant because I havent spent any Kel Tonys into existence yet the money to pay taxes comes from government spending Ill hire some of you youll build roadways for me and Ill pay you kill tony
