Taxing Your Brain With A Trillion Dollar Coin

What is it?  The trillion dollar coin is a concept which emerged during the United States debt ceiling crisis in 2011, as a proposed way to bypass any necessity for the US Congress to raise the country's borrowing limit, through the minting of very high value platinum coins. The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions.  (Yes it is legal)

How does it work?  The US Government mints at coin with a face value of $1T and deposits it with the Federal Reserve.  The Fed then gives the US Government $1T to spend. 

Will it work?  YES!  The same thing happens today except the US Government creates treasury bonds which the Federal Reserve buys and in turn, gives dollars (Federal Reserve Notes) to the US Government to spend.  Reducing the task to the simple mint and deposit of a tiny coin saves a lot time and effort.  There is no difference between treasury bonds and trillion dollar coins to the Federal Reserve and that is why it will work.

Why Won't the Government Do It?   If they did this, then someone would want the government to not just mint one coin but how about 4 coins each year to cover all of our spending needs.  Then we wouldn't have to collect any taxes.  Governments rarely give up their taxing power.

Stop and really think about this for a moment. 

Now let me ask you... If a government can create its own money, why does it take money from its citizens?  If no one had to pay taxes, don't you think consumption would skyrocket?  If consumption increases would the economy expand as more and more people created more and more products and services to meet the increased spending power of the people?  If so, then taking people's money collapses the economy.