this post was submitted on 08 Feb 2025
473 points (96.6% liked)

Curated Tumblr

5167 readers
2 users here now

For preserving the least toxic and most culturally relevant Tumblr heritage posts.

Here are some OCR tools to assist you in transcribing posts:

Don't be mean. I promise to do my best to judge that fairly.

founded 2 years ago
MODERATORS
Apytele@sh.itjust.works
ethaver@kbin.earth
473
How to fix the economy (lemmy.world)
submitted 3 months ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
162 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[โ€“] rockSlayer@lemmy.world 3 points 3 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 3 months ago

Taxation is necessary to counter overaccumulation