3 ms·

> Taxes do not finance the US government. The US government creates money to finance itself. Source for this claim? I've never heard this before and it sounds

• comice 10y ago
  Well in a nutshell, the US government makes the money. It can never run out. So it isn't dependent on tax revenue to spend. So the limitations on spending are elsewhere. This is a good intro: http://elliswinningham.net/index.php/the-basics/us-currency-part-1/ http://elliswinningham.net/index.php/the-basics/us-currency-... http://elliswinningham.net/index.php/the-basics/us-currency-part-2/ http://elliswinningham.net/index.php/the-basics/us-currency-... http://elliswinningham.net/index.php/the-basics/us-currency-part-3/ http://elliswinningham.net/index.php/the-basics/us-currency-... Also maybe: http://bilbo.economicoutlook.net/blog/?p=9281 http://bilbo.economicoutlook.net/blog/?p=9281 A rant on deficits: http://elliswinningham.net/index.php/2017/01/10/deficits-matter-paul-krugman-doesnt/ http://elliswinningham.net/index.php/2017/01/10/deficits-mat... For more, just look up modern monetary theory.