>>520223570
America's dollar is the world reserve currency, there is a perpetual global demand for USDs which is why the US can borrow in its own currency at absurdly low interest rates and maintain a permanent trade deficit

The world's economy needs a constant inflow of USDs in order to keep up with its growth and expansion, and ironically if the US started practicing fiscal austerity and paid its debts down this would contract the supply of circulating USDs and cause a global economic crisis

America could in theory abolish all its taxes tomorrow and just finance itself government through printing money. Taxation is just a pretense, sort of like bagholders pretending a shitcoin has some intrinsic value in order to justify continuing to hold the bag