You may have seen this on Warren Mosler's website, but in case you haven't, check it out. It's a very well done presentation.
This Could Change Everything Copy
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3 comments:
Taxes *can not* fund spending. The imposition taxes creates liabilities in the 'non-government' sector and payment of taxes returns government liabilities to the government, annulling both the non-government and government liabilities.
Didnt see it Warrens Mike, caught it here Tom posted yesterday lol.. Nice though.
Should have been:
Taxes *can not* fund spending. The imposition of taxes creates liabilities in the 'non-government' sector and payment of taxes returns government liabilities to the government, annulling both the non-government and government liabilities.
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