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<p>[QUOTE=&quot;ToughCOINS, post: 2066901, member: 20480&quot;]Velocity and turnover are synonymous.</p><p>&nbsp;</p><p>What is important to the generation of taxes, however, is the actual gain realized.&nbsp; In the case of wages paid, the entire amount is taxable after deductions and credits.&nbsp; For items sold, taxes are taken only from net profit after Cost of Goods Sold, overhead, expenses, other deductions and credits.</p><p>&nbsp;</p><p>Money has to change hands many times before a dollar creates a dollar in taxes paid.</p><p>&nbsp;</p><p>During 2012, there was an average &quot;circulating&quot; total of 3.2 trillion US dollars (isn&#039;t it shocking that out national debt is 5 to 6 times what is in circulation, or that our unfunded liabilities, estimated at 100 trillion dollars, are an astonishing 30 times that in circulation?).&nbsp; That 3.2 rtillion figure represents what is in bank vaults, cash machines, wallet, purses and mattresses.&nbsp; That does not include what people had in their bank accounts, as that had been lent out to borrowers or to other financial institutions, and was not physically at the banks for payment on demand.</p><p>&nbsp;</p><p>The IRS reported 2013 Federal Tax Revenue at 2.7 Trillion US dollars.</p><p>&nbsp;</p><p>That means each circulating dollar earned roughly 84 cents, on average over the course of 12 months.</p><p>&nbsp;</p><p>Different denominations are spent with different frequency and, therefore, see varying durations of circulation before being replaced because of excessive wear.&nbsp; A good estimate of average circulating life for a composite of all denominations of US paper money is 24 months.</p><p>&nbsp;</p><p>Thus, each US dollar earns roughly $1.68 in taxes before it is destroyed.[/QUOTE]</p><p><br /></p>

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