Comments by "" (@blackbulldog4897) on "What’s the real reason why we tax?" video.

  1.  @billrigg1324  You are confusing yourself, a currency user, with the government, the currency issuer.
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  2. ​ @Tensquaremetreworkshop Every country with a floating fiat currency?
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  3.  @colsylvester639  I was asking him if he thought the collapse he's banging on about has happened to every country with its own fiat, floating currency; of course, it hasn't. These people have zero idea how fiat money systems work.
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  4.  @garysmith5025  Well, whatever we can do we can afford is a truism. Why do you think all spending has to be balanced by taxation?
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  5.  @garysmith5025  Taxation has multiple functions, primarily to drain demand so there are resources available for govt to use, drive demand for the currency etc. I'm of the opinion our govt should use it's fiscal power to organise the resources at it's disposal for the public good. Taxing the wealthy probably won't do anything productive at all.
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  6. How do you think govt fiscal ops work on a day to day basis? What power do you think the IMF has over our sovereign government?
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  7.  @Tensquaremetreworkshop  Correct, the IMF has zero power over the UK govt. So, why would a govt with it's own fiat, floating currency ever need the IMF for anything at all?
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  8. MMT isn't something that's subscribed to or not, it describes how our fiat money system works, now, today.
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  9. It's observable fact, it's how govt fiscal ops work every day. No need for any kind of belief system unless, of course, you are attempting to deny observable reality.
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  10. Check the Whole of Government Accounts.
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  11. Where did you get the 97% figure from?
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  12.  @Nhoj737  do you know where he gets the 97% figure from? If you look at the available figures for the UK it looks more like 45/55 CB/retail banks if you compare ons releases and BoE "Money and Credit Tables".
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  13.  @patrickokeeffe-i7i  Reality is all govt spending is "borrowing", initially from it's own bank, the BofE. As you say Gilt issuance is a political choice and coupon payments are a state benefit for people who have money. Gilts are a refinancing operation, not a funding operation. However, if using the definition of "borrowing" as taking with the intention of later giving back, then Gilts are "borrowing".
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  14. It's naive in the extreme to believe these neoliberal ghouls don't know what they are doing.
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  15.  @baronvontrap3325  these people ☝️ have zero idea how fiat money systems work.
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