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Kelton Interview from luckbox


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So many word game across all of this stuff.

MMT: Taxes don't fund spending, they control inflation.

How the hell is this differerent than saying that taxes move existing money to the govt so they can spend without creating inflation?

MMT: Real resources are the limit to govt spending. 

Yeah, the govt needs real resources to be able to fund its balance sheet expansions. That's called taxing existing resources and borrowing on credit based on the credibility of those real resources.

I could go on and on. Most of this isn't new. It's just a bunch of word games from economists who are trying to pass off a political agenda.

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