this post was submitted on 12 Sep 2024
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Asklemmy
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This graph gives the false impression that federal taxes actually pay for anything.
The people are in debt... to themselves
And as long as people have confidence in our currency, the debt we owe to ourselves really doesn't matter
This idiotic logic is how we got 34 trillion of debt and nothing show for it lol
We have a fair amount to show for it (like over 750 overseas military bases), it’s just that very little of it is for the working class.
Thank you.
Thought MMT was recently disproved.
No sources. Thought the recent inflation showed it to not model things. It would be great if MMT worked though.
MMT isn’t a tool for modeling all of inflation’s factors. It’s simply a description of how sovereign fiat money works. Some people mistakenly (or knowingly, for disparagement or promotion) attribute things to MMT that it just isn’t.