Comments by "Grim Affiliations" (@grimaffiliations3671) on "Tom Nicholas" channel.

  1. Austerity kills, and it doesn't even save you money in the long term
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  2. Because of an obsession with "balancing the budget". They dont understand that the only way for the private sector to net save is for the government to net spend
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  3. and the central government could be doing a lot more to fund these localities without raising taxes. Taxes don't actually fund anything the central government does
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  4.  @Jbm1996  look what private ownership did to thames water
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  5. get the tories out
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  6. So it all boils down to good old electoralism? All the protests in the world wouldn't have made the tories stop new oil development
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  7.  @richardwills-woodward  I'm saying taxes don't fund anything the government does on the national level. They're literally debited out of existence upon payment. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out some of what they've already spent. They make us pay those taxes to create demand for the currency, and to control inflation by lowering our spending power
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  8. I'm saying taxes don't fund anything the government does on the national level. They're literally debited out of existence upon payment. The money we're using to pay taxes comes from the government in the first place, so our taxes don't give them new money, they just cancel out some of what they've already spent. They make us pay those taxes to create demand for the currency, and to control inflation by lowering our spending power
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  9. All of these problems could be avoided if policy makers on the national level embraced MMT
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  10.  @XMysticHerox  governments debt is the private sectors asset
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  11.  @XMysticHerox  taxes dont fund anything the government does. Tax money is debited out of existence upon payment
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  12.  @TheStarBlack  Also "balancing the books" doesn't even apply to governments like the UK, because they borrow in their own currency. Check out the deficit myth by stephanie kelton
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  13.  @lochnessmunster1189  learn monetary operations
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  14.  @OneEyeShadow  100%
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  15.  @inphowatcher9748  Every penny the government spends is created by the government. It simply extends its overdraft with the bank of England. So why does it tax at all? To create demand for the currency, and to control inflation by reducing our spending power. That's it. Taxes can't pay for spending because the spending comes first (or else we wouldn't have the money to pay the tax) and then some of that money is deleted via tax. I highly recommend checking out a book called The Deficit Myth, it mainly covers the US but it applies here as well
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