Do Taxes Fund spending?
I’m stepping way outside my comfort zone here and inviting a discussion that I think we need to have. It is about money. If the article reproduced below is an accurate reflection of how debt and deficit work, then we need to talk about it instead of playing the mindless games we play at the moment in respect of taxes, spending and the supply of money in general. It is completely new to me and puts me on a learning curve. There are many similar articles available online under various headings, such as, High Powered Money, Monetary Base and others but the one below was, for me, the easiest to understand.
Original article first published at The Australian Independent Media Network
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John Kelly