/biz/ - Business & Finance

>>25724225
Unironically in MMT, they acknowledge that taxes aren't necessary to pay for things. Instead, taxes function to 'destroy' money, removing from circulation. This isn't as crazy as it sounds when you remember that Keynes' system was easing during bad times AND tightening during boom times, to prevent bubbles forming that would lead to collapses.

The underlying issue here is that he had total faith in people to exercise restraint during good times and willingly use policy tools to keep "roaring 20s" style times form happening. Which is frankly laughable.