Curated Tumblr

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How to fix the economy (lemmy.world)

submitted 3 days ago by [email protected] to c/curatedtumblr

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[–] [email protected] 3 points 3 days ago (1 children)

You kinda just explained modern monetary theory. The US, UK, Canada, and a few other countries don't get money from taxes, they owe debt to themselves and earn it back through the next printing. There is a budgetary limit though, which is the amount of labor and resources available to the government

[–] [email protected] 1 points 2 days ago

Taxation is necessary to counter overaccumulation