MMT is controversial, and is actively debated with dialogues about its theoretical integrity, the implications of the policy recommendations of its proponents, and the extent to which it is actually divergent from orthodox macroeconomics. MMT is opposed to the mainstream understanding of macroeconomic theory and has been criticized heavily by many mainstream economists.
i don’t think your comment properly highlights how controversial MMT is. i’m not an economist, but i don’t think it’s fair to use language like “taxes funding things is a myth” and “technically nothing is funded by taxes and taxes are just a money void”, when those claims rely on such a controversial theory.
Yes this is all true, MMT is a theory. It’s in the name. Yes, it’s controversial.
But those points have nothing to do with the validity of the statements I made, including the ones you quote. It’s a very broad economic theory covering how things should be done etc etc.
My point is not founded on MMT, I referred to it as a “look this stuff up by starting here”. That’s why it’s only mentioned in the edit. The mere fact that this is an even remotely acceptable implies the statements I made is valid - otherwise MMT would fall apart at its seams.
Taxes funding things is indeed a myth, and they’re essentially a money void. Go read up on those specifics if you want to get into it. The video I linked has a literal explanation of this like 30 seconds later. When congress approves programs, they just allocate new funds to it, and move on. There’s no digging up taxes to point towards it.
You could begin making an argument it has implications for the validity and reliability of the sovereign currency, but it has no real relationship to taxes. That’s just not how modern economics work anymore.
It’s only controversial because most economists are basically capitalist lapdogs who hiss like a vampire at even slightly critical of neoliberalism. If you’ve ever taken an economics course shit’s basically just neoliberal propaganda with the sprinkling of rebranded marxism. You’ll feel dumb because nothing makes sense but it’s not that you don’t get it, it’s because they’re full of shit. The few that do push through the bs end up getting groomed into the system and continue the cycle for the next generation. The rest either quit or pick up Kapital and learn real economics, then you’ll realize that wow, economics is actually really easy when it’s logically consistent and not cloaking evil slaver ideology.
the wikipedia page says:
i don’t think your comment properly highlights how controversial MMT is. i’m not an economist, but i don’t think it’s fair to use language like “taxes funding things is a myth” and “technically nothing is funded by taxes and taxes are just a money void”, when those claims rely on such a controversial theory.
It’s not worth your time to refute one giving youtube link as a backing reference.
Yes this is all true, MMT is a theory. It’s in the name. Yes, it’s controversial.
But those points have nothing to do with the validity of the statements I made, including the ones you quote. It’s a very broad economic theory covering how things should be done etc etc.
My point is not founded on MMT, I referred to it as a “look this stuff up by starting here”. That’s why it’s only mentioned in the edit. The mere fact that this is an even remotely acceptable implies the statements I made is valid - otherwise MMT would fall apart at its seams.
Taxes funding things is indeed a myth, and they’re essentially a money void. Go read up on those specifics if you want to get into it. The video I linked has a literal explanation of this like 30 seconds later. When congress approves programs, they just allocate new funds to it, and move on. There’s no digging up taxes to point towards it.
You could begin making an argument it has implications for the validity and reliability of the sovereign currency, but it has no real relationship to taxes. That’s just not how modern economics work anymore.
It’s only controversial because most economists are basically capitalist lapdogs who hiss like a vampire at even slightly critical of neoliberalism. If you’ve ever taken an economics course shit’s basically just neoliberal propaganda with the sprinkling of rebranded marxism. You’ll feel dumb because nothing makes sense but it’s not that you don’t get it, it’s because they’re full of shit. The few that do push through the bs end up getting groomed into the system and continue the cycle for the next generation. The rest either quit or pick up Kapital and learn real economics, then you’ll realize that wow, economics is actually really easy when it’s logically consistent and not cloaking evil slaver ideology.
In other words… it upsets the rich people that got us into this mess.