this post was submitted on 18 Apr 2026
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Showerthoughts

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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The most popular seem to be lighthearted clever little truths, hidden in daily life.

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If all the money ends up in hands of billionaires and their corporations and there will be no money in hands of regular plebs...
Who do you think will have to pay the taxes? Also, the people would figure out a different way of trading or currency. And with that one getting taxed, all the billionaire's money become worthless.

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[–] wewbull@feddit.uk 3 points 18 hours ago

How banks lend money isn't controversial. How governments spend and collect money isn't controversial. Those are just points of fact. The controversial part is the government being able to spend before it has tax levels which "support" the spending. That's what I meant. MMT says that's an available choice. That's all.

Many mainstream economists will say that unchecked spending is reckless and you risk hyperinflation. Now we're in to policy choices though. Regardless, if you spend without worrying about the other side of the equation (tax) they'd be right. However, that's a strawman argument because that's not what is being said.

I'll be honest, I've yet to hear a convincing argument against MMT, and I've looked. I started off sceptical, but I now think it's a useful framing tool. Every counter I've seen doesn't address what it actually states, rather what they imagine it states (normally unchecked spending). If anyone has seen a good factual argument against MMT I'd be interested.