2026-09-11 01:01 UTC
You need to continue to think this through.
If taxes are a deflationary mechanism because they remove money from circulation, then that would imply that the opposite is also true; that putting too much money into circulation is, broadly, an inflationary mechanism.
There’s a lot of nuance I’m skipping over there, but that’s exactly my point. You’re taking a very basic, very one dimensional view of MMT and treating it as a license to spend infinite money, when that’s not actually what the theory says at all.
Replies (1)
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@NewDark@lemmy.today 2026-09-11 06:54
I’m actually not. I’m saying that if you have the ability to print your own money, it is impossible to default on debt owed in that currency. It’s not a license to print money, it’s an understanding of a logical conclusion. This large number is waved around to justify austerity for the poor and without a shred of irony advocate for tax cuts (mostly for the wealthy). I’m just demonstrating why it isn’t the boogeyman it’s made out to be.