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How to fix the economy
(lemmy.world)
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this post was submitted on 08 Feb 2025
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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
Taxation is necessary to counter overaccumulation