I would not take that as an actual description of MMT just the net outcome. The shortest way to describe it is: The only real limit to printing a fiat currency is inflation and the primary purpose of taxes is to address inflation.

Imagine all government spending comes straight out of the mint and all taxes go into a furnace. Federal debt therefore is an outdated artifice of when currency was backed by gold.

It has a unique consequence: if the gov spends money in such a way that it destroys more wealth than it spent (eg crashing health insurance stocks) then you should lower taxes.

[–] blunder@hexbear.net 1 points 3 months ago (1 children)

I was more urging you to assume good faith of comrades rather than assuming the other person was being intentionally condescending towards you, as their explanation was helpful to others in the thread

[–] ZWQbpkzl@hexbear.net 1 points 3 months ago

Please tone police me directly instead of indirectly. The description of MMT extremely lacking and it's wording was condescending: "Yes you heard that right".