this post was submitted on 08 Feb 2025
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How to fix the economy (lemmy.world)
submitted 4 months ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
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[โ€“] rockSlayer@lemmy.world 3 points 4 months ago (1 children)

You kinda just explained modern monetary theory. The US, UK, Canada, and a few other countries don't get money from taxes, they owe debt to themselves and earn it back through the next printing. There is a budgetary limit though, which is the amount of labor and resources available to the government

[โ€“] daw@feddit.org 1 points 4 months ago

Taxation is necessary to counter overaccumulation