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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..:
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.
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.
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.
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…