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Taxation in the fiat CB/MMT era stops being a means to fill public coffers and becomes primarily a means to artificially suppress demand. You tax someone not to
by pphysch 4y ago
Taxation in the fiat CB/MMT era stops being a means to fill public coffers and becomes primarily a means to artificially suppress demand. You tax someone not to raise your funds, but to decrease their spending power.
If you need to fill the public coffers, just ask the CB! You can then use taxation to mitigate the inflationary pressure of doing that.
But generally taxation becomes a bandaid for poor economics, and institutions like the IRS are obscenely arcane and bloated. They should be eradicated and replaced by a much simpler and more automated digital accounting system.
No, this doesn't have anything to do with the virtual beanie babies known as cryptocurrency.
- colinmhayes 4y agoYou are describing mmt which has been thoroughly rebuffed by mainstream economists. https://www.igmchicago.org/surveys/modern-monetary-theory/ https://www.igmchicago.org/surveys/modern-monetary-theory/
- pphysch 4y agoOh no, not the Mainstream Economists. Meanwhile, the USG is busy increasing their deficit and not taxing megacorps while trying to tackle inflation.