2 ms·
Except that isn’t what will happen. We are already plagued by spending that is funded by deficits and not new taxes. Why? Because one of those things is MUCH e
by bequanna 3y ago
Except that isn’t what will happen.
We are already plagued by spending that is funded by deficits and not new taxes. Why? Because one of those things is MUCH easier than the other. Easy to agree to spend money, difficult or impossible to add new taxes.
This is exactly why MMT has stopped being a thing. The pandemic Federal spending deficit ballooned, contributed greatly to inflation and was not met with increased taxation like MMT said would happen. Whoops…
Academic arguments always sound great then reality hits them hard.
- neilwilson 3y agoThat has nothing to do with MMT. You can’t give free money to people and say that has anything to do with MMT. Which is why MMT rejects the concept of UBI
- bequanna 3y agoFree money via UBI won’t cause inflation because we’ll just create more taxes! Increased government spending via MMT won’t increase inflation because we’ll just create more taxes! Both ideas rooted in the same academic nonsense that is divorced from reality.