Wealthion · Monday, August 10, 2026
Chris Casey contrasts the federal government's financial capabilities with those of individual states, noting the federal government's ability to print money as a key difference. He also points out that stricter constitutional safeguards may prevent the federal government from enacting certain measures, like a wealth tax, that states might attempt.
“The federal government has two things going, well, one thing hindering itself and one thing in its favor that will at least ameliorate, uh, financial repression on the scale that states may have.”
“One is that they can print money, right? The states can't print money.”
“That's why California may get away with a wealth tax, whereas the United States, probably cannot.”