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Rask. AOC is not proposing it be paid through taxes. She

Posted on: February 11, 2019 at 22:37:47 CT
TigerMatt STL
Member For:
20.56 yrs
M.O.B. Votes:
subscribes to MMT. MMT holds that taxation only exists to fight inequality. MMT proponents do not believe taxes are necessary to fund government as government has a monopoly over money.

"As the national government is the currency monopolist, it is the only supplier of currency for the nation. In other words, since the government is in a position of authority to declare a unit of account, to impose tax obligations denominated in that unit of account, and to determine the ‘money thing’ that it will accept as payment for taxes, and to issue the ‘money thing’ denominated in its chosen unit of account that people need to pay their taxes, and to prescribe punishment for not paying the tax, the private sector is not in a position to demand a price in that unit of account from the national government for its goods and services, or for its labour. The national government determines the price that it is willing to pay for goods and services and for all labour offered to it.

Put simply, because the national government is the currency authority, it alone denominates (prices) all obligations in its unit of account.

The private sector now brings its goods/services and its labour to the national government, and the government declares that it will pay so many dollars for the goods/services and labour. The private sector can do nothing but accept what the government is willing to pay because there is no other means available of obtaining the tax credits necessary to extinguish the tax liability. The national government then generates its own money thing (tax credit) denominated in its chosen unit of account and “pays” the private sector for the goods/services and for the labour. It does this by crediting bank accounts: Making numbers larger."
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     Rationalty has no place in leftist dreams - mu7176grad MU - 2/12 07:27:40
     RE: Green New Deal: Not Certain US Will Buy Into A WWII Effort - THEGROVE68 MU - 2/12 02:04:46
     Financing doesn't matter. Modern Monetary Theory adopted - TigerMatt STL - 2/11 22:35:02
     Dollars to donuts they support it more than GOP plans - raskolnikov MU - 2/11 21:48:16
          Rask. AOC is not proposing it be paid through taxes. She - TigerMatt STL - 2/11 22:37:47
               AOC is queen of no one but the Right - raskolnikov MU - 2/12 09:50:01
                    you idiot, it's the basis of the entire thing. do you f'ing - 90Tiger MU - 2/12 09:52:18
     It won't make a dent on global warming - Sal KC - 2/11 21:44:33
          It puts us ahead(nm) - raskolnikov MU - 2/11 21:49:05
               🤣🤣🤣🤣🤣(nm) - Cubicle Clown USA - 2/12 07:07:01
               hahahahahaha - Tigrrrr! MU - 2/12 00:25:17
               Puts us ahead of what? (nm) - Sal KC - 2/11 21:55:31
          This(nm) - DevilsAdvocate KC - 2/11 21:44:53
               And they don’t follow our leadership - DevilsAdvocate KC - 2/11 21:46:08
     Sounds like pretty much every DC Gov't "deal." (nm) - Newcatbirdseat MU - 2/11 21:42:24

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