An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, August 15, 2012
Wonderful MMT presentation here
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.
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.
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.
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.
ReplyDeleteDidnt see it Warrens Mike, caught it here Tom posted yesterday lol.. Nice though.
ReplyDeleteShould have been:
ReplyDeleteTaxes *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.