John Hinderaker:
One obvious question is, if the government can just print money and thereby create wealth, why do we have taxes at all? To be consistent, the Democrats should advocate abolishing the federal personal and corporate income taxes, as well as the federal estate tax.
Of course, Modern Monetary Theory is not modern at all. It has been tried by desperate governments for several centuries, and arguably back to ancient times. Just ask residents of the Weimar Republic, Argentina, Zimbabwe and Venezuela, to name only a few of the most famous instances, how Modern Monetary Theory worked out for them.
# posted by Ranger @ 9:13 PM
