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Disagree with almost everything MMT proponents advocate for. But their ideas about taxation I find interesting as a philosophical insight. That is - since a fia
by auganov 6y ago
Disagree with almost everything MMT proponents advocate for. But their ideas about taxation I find interesting as a philosophical insight. That is - since a fiat-issuing government can print money at will (which they routinely do), taxes' main purpose cannot be to finance its operations. It is to create demand for the currency.
- aeternum 6y agoCreating demand for USD was also the reasoning behind the petrodollar agreement (that all OPEC oil purchases must be made in USD). That agreement was very successful in generating not only local but worldwide demand for USD.