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Some of the write-in comments were interesting such as "there are some limits such as financing the entire world's output" and "this will make it impossible to
by ctchocula 6y ago
Some of the write-in comments were interesting such as "there are some limits such as financing the entire world's output" and "this will make it impossible to sell more bonds". I would be interested to see a debate between a mainstream and MMT economist, to hear how a MMT supporter would address these critiques.
- bhupy 6y ago"this will make it impossible to sell more bonds" Forget about actually cutting taxes directly, MMT holds that we can in theory institute a regressive UBI program that gives cash to people == to their effective income tax (thereby zeroing it out). The only limit, per MMT, is real resource scarcity. In this implementation, the bonds are still being paid back via taxes, but those taxes are coming from the Fed's printing of money.