Where 'can afford to buy' = 'can coerce citizens to pay taxes to buy'.https://twitter.com/StephanieKelton/status/1093575469440618496 …
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It's not even taxes. The government would simply print the money and inflate the currency.
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It's worse, it erodes the money's value and negatively affects the poorest people first. It happened in Brazil through the late 80's/early 90's and in Venezuela in the past decade.
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To be accurate, neither of those had the resources to support the money flow. And then didn't correct for inflation
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It's a a tax on a specific kind of wealth - dollar savings and dollar denominated debt holdings.
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I love the ‘snake entrails’ inflation calc for MMT lol
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A wealth tax would theoretically distribute while spend would increase initial volume in order to amp up production. What happens on backed...taxes or whatever adjusted for inflation.
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