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the debt (lemmy.world)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] sockenklaus 2 points 6 months ago

They seemed to think that tax revenue in some way has to happen for spending to happen.

Noo!

But the federal government creates money ex nihilo.

Yes!

Money has to be created before it can be destroyed through taxation.

Yes!!

We do not rely on the money of the wealthy. What matters is actual, real resources and services we can provide.

Yes, yes and yes!! ❤️

Thanks for your concise explanation of MMT! I wouldn't be able to phrase it this well. ❤️