#taxesdontfundspending — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #taxesdontfundspending, aggregated by home.social.
-
@davidreinertson @DemocracyMattersALot Taxation has several functions. First, and foremost, is that it is what creates the value of a currency. The US govt will only accept payment of the tax liabilities it imposes in US dollars, therefore we need them. (If I were to create my own currency, otoh, no one would have any reason to want it.)
This is all clearly explained in Prof Stephanie Kelton's book "The Deficit Myth," which I highly recommend. -
@DemocracyMattersALot So none of these three morons understands how US federal government spending works. (Spoiler: It's all newly-created dollars - NOT recycled taxes. Y'know - fiat currency.)
To repeat, these are all morons. The real problem is how few people reading this here on Mastodon get it.
We need more people who understand the BS.
#fiatcurrency #taxesdontfundspending #IgnoranceIsDangerous "MMT "TheDeficitMyth #NixonDitchedGoldStandardsin1972 #MainstreamMacroeconomicsIsaCon
-
@DemocracyMattersALot So none of these three morons understands how US federal government spending works. (Spoiler: It's all newly-created dollars - NOT recycled taxes. Y'know - fiat currency.)
To repeat, these are all morons. The real problem is how few people reading this here on Mastodon get it.
We need more people who understand the BS.
#fiatcurrency #taxesdontfundspending #IgnoranceIsDangerous "MMT "TheDeficitMyth #NixonDitchedGoldStandardsin1972 #MainstreamMacroeconomicsIsaCon