Comments by "리주민" (@user-nf9xc7ww7m) on "Modern Monetary Theory Explained - Is MMT Right or Wrong?" video.

1) So should state and local govts have their own central banks (and if needed, their own sovereign currencies)? Cities and states need some TLC and investments and I see local better at implementing if they could "print" as much as needed. Also, could drastically reduce property and sales taxes as taxes in MMT are used primarily to control inflation and redistribute wealth. 2) I don't want to be a currency user, but rather a currency creator/owner. Why can't I "print" my own sovereign currency and give myself loans I never have to repay? I will invest in the $3.5 million mansion and the $1.3 million yacht...for my children's future. I will even keep track of my personal debt and just "print" money to pay the minimums.
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@reasonerenlightened2456 I believe Keynes didn't care about the intricacies of progressive income tax. He merely stated to raise and lower taxes in general at those times.
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@reasonerenlightened2456 I must point out that the biggest difference between Keynesian and mmt is that Keynesian pays back the money, mmt does not--merely ensuring currency inflation is in check. Keynesian has not really been in practise as both parties are hesitant to raise taxes on all in countercyclical fashion, but quite eager to lower taxes on all or raise taxes only on rich. While not flat, even Scandinavian countries have higher taxes for all, not just the rich (though they also pay for universal healthcare and education through university). Personally, if both the monetary and fiscal policy were taken out of the hands of politicians and put in an independent agency, taxe rates could be adjusted based on the economy (business cycle) as politicians who want to re-elected are quite hesitant to raise the taxes on all (note even the democrats only want to raise taxes on the rich).
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