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Originally Posted by Yakk
Define 'break'?
You can have a monitary system with a debt 100 times the nation's GDP. It won't be a very useful one.
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Oh, I don't know, maybe something like 1000% inflation or when I go to buy bread they won't accept my little pieces of paper with pictures of dead presidents on them.
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Originally Posted by Yakk
Define fails
As you decrease the marginal incentive to produce, production tends to go down, if all other variables are held constant. All other variables are not held constant. (there are situations in which a pay, or incentive, raise results in less production)
With 100% income tax, production will still be done. Most of it may be underground, but it will still happen.
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Again, I'm not sure, maybe something like the great depression or unemployment over 30% or so.