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acemaxx

What is with this statement of “all federal spending is taxation”? – Govts spend first, then tax, meaning tax revenue is not needed for spending. Note: Govt cannot receive currency until after it spends.

Feb 18, 2025, 06:05 AM·Public·Web
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acemaxx

(note to self) are for redemption, not for revenue. The true purpose for tax is to create a demand for the money.

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Weltzeitgeist

@acemaxxanalytics It still amazes me that the BoE over 10 years ago felt the urge to put out a paper to explain to everybody how our monetary systems functions because most people in public didn't get it and for some reason we just moved on. Especially the neoclassical economists who don't need 'money' for their vodoo.

It feels so dumb that one has to explain this over and over and over again..

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