Hi,
My ‘7 Deadly Innocent Frauds of Economic Policy’ is a short read that should be helpful to the readers on this website, particularly the author of the comments on the previous post, as you all try to grasp the operational realities of our current monetary arrangements.
For example, operationally, taxes don’t actually ‘give’ the federal govt. anything to spend. All the federal govt. does when it ‘collects taxes’ is change the number down in someone’s bank account. And when it spends all it does is change numbers up in our bank accounts. That’s just how it works. Not theory or philosophy.
Sincerely,
Warren Mosler