Dave Johnson on Nostr: People don't understand what money is. Some people gain advantage by tricking those ...
People don't understand what money is. Some people gain advantage by tricking those people into thinking governments "borrow."
Government debt is simply a measure of how much money is circulating. Govts spend money into the economy, taxes take it out.
Taxes do not "fund" spending. Taxes are not "revenue." Taxes remove currency from circulation.
In the USA "paying off the national debt" would mean taxing $30 trillion out of the economy. How do you think that would work out?
#mmt
Government debt is simply a measure of how much money is circulating. Govts spend money into the economy, taxes take it out.
Taxes do not "fund" spending. Taxes are not "revenue." Taxes remove currency from circulation.
In the USA "paying off the national debt" would mean taxing $30 trillion out of the economy. How do you think that would work out?
#mmt