Finance Ministry set to 'ramp up the tax base'

[handdrummer]

The fallacy is that the government has to raise taxes to offset the borrowing of money. Thailand is a sovereign nation and prints its own currency, it isn't dependant upon tax revenue for funds.
The same is true of all sovereign nations.

But the problem with that strategy is that it leads to rampant inflation with the costs of goods increasing and it’s already beginning to bite!!

Rather than get into a pages-long explanation, let me refer you to the book; The Deficit Myth by Stephanie Kelton. It's very enlightening for anyone who wants to understand Modern Monetary Theory and can change the way you think about economics, the deficit and inflation.

[buksida]

The problem will come when these countries keep printing money and devaluing their own currencies as hyperinflation sets in as already stated. It is already getting more expensive here, and everything that is imported is already hammered heavily with taxes. The banks now won't insure anything over a million which is a massive red flag, their fractional reserves are at rock bottom due to the galloping debts.

The hedge against currency devaluation is investing in store of value assets such as gold or Bitcoin. When the U.S. stock market dumps from its record highs this month, gold prices will surge - its a tried and tested pattern.

The junta, like most gooberments, wants its covid stimulus money back to spend on its own priorities (Chinese war weapons most likely), and it is the people at the bottom of the pile that have to pay for it through these increased taxes.