argument that this is not just o.k., but you support taxing what already has been taken so thing don't get overheated (but overheating was caused by the government in the first place, no?). You see to state that the IRS is the antidote to the fed's inflation. Perhaps it is my ignorance, but would it just be a lot easier and a lot more efficient to get rid of both of them? Am I thinking about this all wrong? Am I still stuck on an innocent fraud I can't see? But more importantly, these "savings" account investors have with the Federal Reserve, this money lent to government (instead of being spent), well aren't large deficits still a problem as that is money that the government has to use and not individuals and business. Isn't there an opportunity cost problem? Doesn't a problem exist in that the private sector far far more efficiently allocates resources than a government that inevitably picks winners and creates losers? Isn't this the manifestation of Adam Smith's fear/prediction of government and big business getting in bed? Isn't this the real problem? Isn't it a problem that social security or any other "savings" is "invested" in the government when those funds would help the economy grow if they were invested in the private sector? In my experience as tax attorney, I see many many clients with phony capital gains. For instance, client buys blackacre in 1950 for 2000 dollars. Blackacre is sold in 2010 for 100,000 dollars.