Any time there is an MMT post, the comments are dominated by conspiracy theorists, haters of government, goldbugs, and victims of alien probings who are certain that MMT-ers are united in their effort to ramp up government until it consumes the entire economy.
Once we understand what taxes are “for”, we can start to think about what kinds of taxes make sense.
If there’s no inflation danger, there is no point in taxing the rich before keystroking the poor.
Wherever this flag’s flown, We take care of our own. 🎵 Progressives need a new meme for money. This series is addressed to them.
Let us continue to develop an alternative frame for money. As you know, MMT says that “taxes drive money”. Let’s develop that further.
A great explainer video from students of Eric Tymoigne at Lewis & Clark College.
A nation like the U.S. with a sovereign currency that borrows in that currency and allows that currency to “float” is nothing like a household when it comes to budget.
Understanding how federal finance works makes for better predictions and sensible policy.
Sovereign government does not really need revenue in its own currency in order to spend.