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But, if you have to rise taxes, not to fund the spending as such, but to offset inflation, how much difference does it really make? Kavanagh: ”…surtaxing the rich does not transfer funds directly to pay for another activity like healthcare, but it does help configure the money supply on a macro level to enable more social spending. It averts the inflation that would occur if both a lot of spending on healthcare andthe infinite appropriation of money by individuals were tolerated. Taxes don’t raise funds; they do help control the money supply.” > > > > This is quite a useful piece by Jim Kavanagh on the Counterpunch website from > a couple of years ago. It’s lengthy; I’ll post a few key passages but it’s > worth reading in full: > > > > > > https://www.counterpunch.org/2018/01/22/behind-the-money-curtain-a-left-take-on-taxes-spending-and-modern-monetary-theory/ > > > > > _________________________________________________________ > Full posting guidelines at: http://www.marxmail.org/sub.htm > Set your options at: > https://lists.csbs.utah.edu/options/marxism/daniel.lindvall%40filmint.nu _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
