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#economics #mark-wardsworth
To realize this you have to think harder about what taxation really is for. It certainly is not to 'fund' spending. It is to stop spending become inflationary. Once you realise this you see people voluntary tax themselves - it is called 'saving.' In MMT it is referred to 'voluntary taxation.'
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Mark Wadsworth: Modern Monetary Theory and Land Value Tax
Sunday, 19 April 2015 Modern Monetary Theory and Land Value Tax Random left the following lengthy comment on Lola's post on why LVT is inevitable, tidied up as follows: Every pound of govt spending comes back as taxation. <span>To realize this you have to think harder about what taxation really is for. It certainly is not to 'fund' spending. It is to stop spending become inflationary. Once you realise this you see people voluntary tax themselves - it is called 'saving.' In MMT it is referred to 'voluntary taxation.' So we get the equation Govt spending = local saving + net imports (foreigners saving) + tax. Now we can argue over who gets compulsory taxation and who gets voluntary taxation. But it h


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