Opponents of Bernie Sanders’ progressive proposals warn us, “Even if you raised taxes to 100% and drained every single dollar in the United States, that still wouldn’t be enough to pay for Bernie’s programs.” We admit it: this is true. Nathan Locke explains why that’s never been the point.
A timeline of the monetization of our country; the impetus of the national debt, and how various state and federal banking systems, with Congress’ help, shaped our country’s economics through bank creations, conclusions, failures, and rebirths; from the founding of our nation, to the Nixon Shock ending the literal meaning of the national debt, and giving us what today is often called Modern Monetary Theory.
It’s a resolution to destroy harmful and outdated economic mindsets.
If government spending is just “printing money” then taxing is simply “unprinting money”. It’s a circuit.