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I'm not sure why you're getting down voted for stating a fact: money has to be created through direct spending or back stopping the creation of money by private banks via the reserve system before it can be taxed away.
You can't tax back something that doesn't exist yet.
Just because it's not "our tax dollars" doesn't mean is isn't OUR public money.
They are getting downvoted, because they are obviously wrong. Of course the government is "creating" the money. But it can't just print money and spend it. Countless governments tried it and it always led to hyperinflation - and therefore the budget of course has to come from taxes
How is it wrong if it’s factually what happens now? People have a “common sense” understanding of how the government works, and THAT is wrong.
Ever since fiat became the norm, all governments all over the world that print their own money and have debts denominated in their own currency simply print money to spend, for their budget. That is a FACT.
Only countries that have the majority of their debt denominated in another currency (the dollar mainly) that face inflation when printing money.
The US and Europe printed trillions during covid, and that barely caused a blip in inflation. Inflation only came after supply chains shock and the war.
Like do some basic research, if I’m so obviously wrong it will be very easy to see..:
I still remember 2020 and 2022, it's not that long ago. So Covid started to hit the US in spring 2020. And take a look at inflation rates:
Yeah, it took some time, but you really can't deny that there was "barely a blip in inflation" and that it came only after the war started.
Nah see, it only causes inflation when we help Americans with their student loans, or raise unemployment benefits and other social programs.
But when we bail out banks with hundreds of billions of dollars it doesn’t cause inflation at all…
As I said, the initial inflation was caused by supply chains shock. Many countries had lockdowns. Like China, who produces the majority of everything anyone purchases around the world. Then when the lockdowns ended there was a shortage of shipping containers.
Inflation is caused when money is printed and sits in financialized investment. If it’s used to increase productivity it causes the opposite.
China has been running massive deficits (printing money like crazy) for over a decade and they have very consistent and low inflation.
Most people have fallen for neolib propaganda… of “we don’t have enough money for free universal healthcare”, “if you want free university we’ll need to raise taxes” etc etc.
They think the government is a household.
They're being downvoted for suggesting that the government can create value just by printing more money. That actually causes inflation.
I think you are wrong here dude
It’s just that this argument, based on things that are not facts since the 70s, is used to cut social programs, investment in education, infrastructure etc.
When it makes no sense. The gvmt is not gonna go broke from paying its programs. It prints its own money, and all its debt is denominated in dollars.
We SHOULD cut military spending, subsidies to harmful industries, to private prisons, police forces etc. The way the money is spent SHOULD reflect the will of the people more.
But this argument about “revenue” and “public debt” are literally from the mouths of establishment neoliberal ghouls who have no objective other than enriching their friends. It’s not reality and is only used for harm.