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    Sir Rab Nesbitt Κύριε_ἐλέησον (blepharon@mas.to)'s status on Tuesday, 28-Nov-2023 16:12:49 JSTSir Rab Nesbitt Κύριε_ἐλέησονSir Rab Nesbitt Κύριε_ἐλέησον
    in reply to
    • Richard Murphy
    • 🌈 Dipl. Gangster Maddy Stylo 🦄
    • MMT for Progressives

    @stylo_the_unicorn

    You are wrong.
    MMT does not say that.
    MMT says a sovereign gov't with a central bank and a fiat currency creates money by spending it (investing in services/infrastructure) and destroys it by taxation. Taxation is a tool to control the money supply and hence, inflation. It rubbishes the idea of "public debt" as a fiction, gov't borrowing from itself. It also rejects the myth that taxation "pays for" government expenditure.
    @MMT
    @RichardJMurphy
    #MMT

    In conversationTuesday, 28-Nov-2023 16:12:49 JST from mas.topermalink
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