The most transformative thing, in terms of my perspective on pol-econ, I've learned so far this year is that the purpose of tax in a country with a sovereign currency is to control inflation, not to fund Government spending. #MMT
Replying to @BanGaoRen
Taxes are also used to modify behavior (i.e. cigarette taxes) and to address inequality (i.e. to reduce the excessive accumulation of revenue from economic rents.)
10:45 AM - 8 Jan 2019
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