Found the Randall Wray enjoyer. :)
You’re not wrong. Burning is what they used to literally do in earlier times, and the conceptual model today is exactly the same even if there’s no literal burning.
People don’t like hearing it though. Idk why.
Comment on Who gets all the tariff money about to be collected from US citizens buying products from Canada?
konki@lemmy.one 1 day ago
Noone gets it really. The government collects it, but then it “burns” it, just like it does tax revenue.
kibiz0r@midwest.social 1 day ago
RowRowRowYourBot@sh.itjust.works 1 day ago
Because it is incorrect?
konki@lemmy.one 10 hours ago
How is that? In my view, MMT follows logically from the simple accounting idintity that debits and credits must balance, and the oberservation that the government is the monopoly issuer of its own currency. I’d be glad to hear your perspective though.
BossDj@lemm.ee 1 day ago
Give government people credit. They’re smarter than you think. Money that’s “oops” wasted went exactly where it was intended