Taxes Don’t Fund Federal Spending
Our federal government doesn’t need revenue. So why the chatter about how will the government get money to fund its operations?
Our federal government doesn’t need revenue. So why the chatter about how will the government get money to fund its operations?
Abstractions are invented and agreed upon by us but often become runaway Frankenstein’s monsters when we forget that we made them up.
Let’s start telling the truth about Social Security. We are educators. So let’s educate people on the basic facts.
In this article, we dispute the mainstream view that the inflation of the Weimar Republic was caused by a proactive expansion of the stock of money by the German government acting in concert with the Reichsbank.
In this piece, we study the interaction between the government and nongovernment sectors while retaining the consolidation hypothesis.
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
“All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.”
When poor countries fall prey to inflation, it’s not because they’re “too socialist.” The rising popularity of modern monetary theory (MMT) has inevitably brought misconceptions.