i hate this stuff. i hate it when warren did it, i hate it when bernie does it, even though these are the two candidates i love. 1/https://twitter.com/CaraKorte/status/1232128676776599553 …
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He's riffing on the the implications of MMT; that in the framework of this theory, 'pay-fors' are not coherent.
I was just going to ask the same question. My interpretation is that the campaign is explaining how to pay for the programs in terms of financial and monetary theory/concepts that make sense to technocrats but apparently aren’t coherent or valid (?). I need a translation ):
the US government can’t run out of US dollars. it is the source of them. yet it is essential that the US government tax. why? 1/
Essentially: the implication that federal revenues must equal federal expenditures is a false standard that hides the actual macroeconomic trade-offs of federal spending https://twitter.com/jeffspross/status/1232170841481326597?s=19 …
And claiming, as Sanders unfortunately did, that a wealth tax will "pay for" universal child care makes sense only if you actually believe that oligarchs have armies of childcare workers (or workers that can relatively easily be trained to be childcare workers) at their disposal.
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