The reality is that universal healthcare or infrastructure spending doesn't actually need to be "paid for". The negative yields on sovereign debt all over the w

The reality is that universal healthcare or infrastructure spending doesn't actually need to be "paid for". The negative yields on sovereign debt all over the world and with no inflation in sight shows us that the world has been overly pursuing austerity. Rich economies like Germany and the Netherlands that are obsessed with running fiscal surpluses have held back growth EU-wide. MMTers have been saying this for years but even "mainstream" economists like Larry Summers are coming around to the view that fiscal spending needs to go up [1]. Deficits and the debt aren't the reason why tax policy needs to be more redistributive. It's to actually do something about wealth inequality which is ultimately corrosive to democracy. Having New Zealand citizenship or a hideout in Big Sur won't save you if we run the current regime to its logical conclusion. [1] https://twitter.com/LHSummers/status/1164490326549118976 https://twitter.com/LHSummers/status/1164490326549118976