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I'm not sure we're far enough out to really say for sure if MMT has been disproven by the events since 2021. The global pandemic, supply chain issues, and the w

I'm not sure we're far enough out to really say for sure if MMT has been disproven by the events since 2021. The global pandemic, supply chain issues, and the war in Ukraine all muddy the water. The previous administration also squandered a lot of debt on tax breaks for the ultra wealthy. Even with all that, it's looking like we may actually manage to pull off a relatively soft landing. With all of that, I think it will be some time before we can accurately analyze what these events mean for economic policy.

koolba 3y ago
> The previous administration also squandered a lot of debt on tax breaks for the ultra wealthy. That's a nice sound bite but it's not true as the majority of the tax breaks went to the middle class: https://thehill.com/opinion/finance/584190-irs-data-prove-trump-tax-cuts-benefited-middle-working-class-americans-most/ https://thehill.com/opinion/finance/584190-irs-data-prove-tr... https://www.washingtonpost.com/politics/2018/11/14/does-trump-tax-cut-give-percent-benefits-top-one-percent/ https://www.washingtonpost.com/politics/2018/11/14/does-trum... https://www.cnn.com/2019/02/26/politics/fact-check-sanders-town-hall-tax-cuts/index.html https://www.cnn.com/2019/02/26/politics/fact-check-sanders-t... Even if the majority of the tax cuts went to the wealthy, there's nothing inherently wrong with the people who are paying the most taxes getting the most out of a tax cut. The other end of the income spectrum makes that immediately apparent. Would you expect every tax cut to directly pay money who don't pay any taxes at all? Can we never lower taxes on people making more than some arbitrary income? Or do you mean that after some arbitrary income amount, it's never okay to ever get a tax cut?