3 ms·
The idea isn't exclusive to MMT. Critics from across the spectrum recognize that taxation supports the USD. Buttresses such as legal tender laws, the petrodolla
by aww_dang 5y ago
The idea isn't exclusive to MMT. Critics from across the spectrum recognize that taxation supports the USD. Buttresses such as legal tender laws, the petrodollar system and other barriers serve to support the USD.
Tally sticks are an early example of monetized debt as a taxation medium.
https://en.wikipedia.org/wiki/Tally_stick https://en.wikipedia.org/wiki/Tally_stick