The poster is quite correct. Suggest those disagreeing have a read of this eye opening whitepaper by the Bank of England on how money is created: https://www.ba

The poster is quite correct. Suggest those disagreeing have a read of this eye opening whitepaper by the Bank of England on how money is created: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf https://www.bankofengland.co.uk/-/media/boe/files/quarterly-... The government is entirely capable of funding itself through printing money but as the PDF above describes - this will cause inflation. Taxes exist to reduce circulating currency and prevent run away inflation. This is why the US as the reserve currency can sustain greater debt to finance itself before seeing inflationary pressures and the UK (and other countries) cannot.