4 ms·
What field of economic thought leads you to claim that inflation can (and should) be controlled by taxing the rich? This is an unusual claim, to say the least.
by SamPatt 4y ago
What field of economic thought leads you to claim that inflation can (and should) be controlled by taxing the rich?
This is an unusual claim, to say the least.
- rsync 4y ago"What field of economic thought leads you to claim that inflation can (and should) be controlled by taxing the rich?" Not "the rich" per se, but he is speaking of MMT[1] which maintains that the government of a sovereign printer (sorry, Argentina) does not need taxes at all because they don't "need" the money. MMT purports that money is created by "printing" it into existence and money is destroyed by taxing it away. [1] https://en.wikipedia.org/wiki/Modern_Monetary_Theory https://en.wikipedia.org/wiki/Modern_Monetary_Theory
- dmn322 4y agoWhen the federal reserve loans money to banks, where does that money come from? When the federal government pays its debt to the federal reserve, where does that money go?