Monday, January 30, 2023

Cargo cult economics — Chris Dillow

Even a little "MMT" thrown in.
Of course, a wealth tax would raise money. But the government does not need money: it can print as much of it as you want. It needs real resources: nurses, care-workers, builders, quality managers and so on.
Stumbling and Mumbling
Cargo cult economics
Chris Dillow, Investors Chronicle


NeilW said...

A wealth tax will not raise anything. All it does is turn self taxation into compulsory taxation.

It provides no additional spending power because it does nothing to reduce the quantity of employment in the private sector.

Taxes are there primarily to reduce private sector employment so that the public sector has somebody to hire.

Matt Franko said...

Hence all the “public vs private” and “crowding out!” arguments…

Peter Pan said...

Public private partnerships... where the public gets the shaft.