Taxes haven’t funded anything since the end of the Gold Standard. That’s another framing myth that fails to look at the overall picture. Here’s Beardsley Ruml

Taxes haven’t funded anything since the end of the Gold Standard. That’s another framing myth that fails to look at the overall picture. Here’s Beardsley Ruml ex chair of the NY fed on the subject: http://home.hiwaay.net/~becraft/RUMLTAXES.html http://home.hiwaay.net/~becraft/RUMLTAXES.html Society funds things in real terms not in financial terms. To train more doctors there has to be less medical care available for a time to everybody. It’s the same investment problem faced by firms. Firms invest in training which is a real cost to their production, then other firms nick the staff. The result is that firms stop training. It a major dilemma at country level though because the get out of borrow to train yourself doesn’t exist there. There is no independent training country you can go to that only does training.