As I’ve been saying for more years that I care to count, borrowing money from rich people is a cowardly substitute for taxing them.
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If Doug were acting in good faith, he'd note MMTers don't characterize the Treasury's bond issuance as "borrowing money." In fact, many of us argue that rhetoric is bad bc it suggests deficit spending depends on the rich. Mischaracterizing the power dynamics only helps them!
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Moreover, this is where MMT's interdisciplinary focus is key. Doug is welcome to identify the provisions of the US Code that mandate the Treasury *must* issue bonds for the USG to deficit spend, but he's committed to uncritically accepting the premises MMTers critically assess.
End of conversation
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