Comments by "Dr. Ricco Lindner" (@Dr.RiccoMastermind) on "Burning Money" video.

  1. I am a friend of MMT and I dont think what you propose would work like this. Besides the point the taxed money is already "digitally burned", no selling of assets by rich people to pay higher taxes would benefit any ordinary people. How should they get it, by a villa or large amounts of stocks? It also would be pointless to "repay" and neutralize the public deficit with this extra tax money. In the end noone has any extra (net) money from Covid phase. No, instead the state would have extra capacities to spend money again to the ordinary and poor people via different channels. This would help for a while until the money ends up again with the rich. The state usually did not give money directly to the rich during Covid but they still got it. So there must be a cycle: 1. Spend public money to the ordinary people 2. Let this money drive economy until rich people take the money out of economy into asstes. 3. Tax the assets which are not "productive capital". And always keep in mind: - the state does not need taxes to spend - a state deficit is good because it is equal to net assets in the private sector. - public and private spending should always be dynamic and complementary - the privat sector can't have net wealth without public (or trade) deficit
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