I've become more persuaded by Modern Monetary Theory (which is more descriptive than prescriptive). In short, a sovereign currency issuer is not like a househo

I've become more persuaded by Modern Monetary Theory (which is more descriptive than prescriptive). In short, a sovereign currency issuer is not like a household, business, or gov't entity lacking this ability; it need not offset expenditures with income (taxes) to spend. In fact, that's a backward way of thinking of it — gov't spends first, then taxes to remove money supply from the economy. Taxes are tools to contain inflation, reduce concentration of wealth (and the power/influence of select few), and incentivize/decentivize targeted economic activities (eg spur solar power adoption, discourage smoking, etc.). This site is a great primer on MMT: https://modernmoneybasics.com https://modernmoneybasics.com