The issue is not whether the rich should be taxed more... of course they should... for a host of reasons from income and wealth inequality to access to scarce real resources that should serve the public and to mitigate their influence within the public sphere.
But the real question is why do folks attach tax wars to programs that save lives? Like #M4All or #CancelStudentDebt. It is allowing people to die fighting a tax war to pay for life saving progs when taxes dont fund those progs at all. I call those who do that murderers by proxy.
They allowed folks to die for an unnecessary tax battle that can be fought as a course of public policy looking at an inflation constraint, not a budget constraint.
The act and purpose of taxation is a separate function from the purpose and the act of spending.
Hijacking bills with "pay fors" is murderous and those who push it are streaked in the blood of those who died in the name of austerity you don't have to like it... but that doesn't change the reality that it is so. #SorryNotSorry#AusterityIsMurder#StopNeoliberalism#LearnMMT
And if you want another case... Look at COVID Relief.
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Once you understand the Deficit Myth & you stop trying to avoid #MMT You will see the selfishness that passes for prudent logic as the murderous ignorance it is... "bbut I don't want my taxes going to pay for xyz". Some WILL have pity on them remembering they once were lost too
But that doesn't change anything for the homeless people dying from exposure unnecessarily or suicides from overwhelming private debt brought on by predatory lending, student loans and medical necessity...
You have to balance the lives of the dying with the unwitting henchmen and with their selfrighteous anger over "wasting tax payer dollars" ...
Pretend you understand #MMT (Modern Monetary Theory) and look down at your child, knowing we have less than 12 years to substantively reduce our carbon footprint massively to stave off some of the more deleterious effects of climate change heading towards us.
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You know that Congress and other sovereign currency issuing nations can simply spend what must be spent to save us all from disaster. (Same with Healthcare and education amongst a host of basic needs left unmet)
Now... pretend that the major parties are both corrupt and 3rd parties are steeped in economic illiteracy that edges up on at worst criminal negligence and the very least incompetence.
Automatic Stabilizers are cash injections into the economy when certain events occur and they are cyclical and automatic. When the economy improves, the stabilizers eventually slow to appropriate levels as well.
They serve the public through services such as food stamps, Medicaid, and many other public services, but the key purpose of these automatic stabilizers is not just to help the people.
Friends telling me they are terrified to lose their jobs and are less than one check away from destitution and God help em if they lose their shitty unaffordable care these peak libs pushed with Biden and then the yachting society condemns them for fighting back #BAMN caddyshack
Why do you suppose so many who refuse to actually read MMT literature feel compelled to critique it?
and why do they insist on waxing on about numeraires like the petrodollar or "end of dollar hegemony" when in fact Japan, the UK, Australia and even Canada are case studies that show the vapid nature of these claims?
Japan and China each have a sovereign free floating fiat currency and in the case of Japan have nearly 300% Debt to GDP ratio and they cannot crack 2% inflation and absolutely NO ONE is suggesting to not do business with Japan or that they are broke or anything else.
@CheeseMacro is a great podcast for progressives who want to learn all about the political economy, socioeconomic issues and modern monetary theory #MMT check us out!!