Taxes do not pay for spending - tax plan hoax Posted: Nov 19th, 2017 - 12:23 am
http://neweconomicperspectives.org/2014/05/taxes-mmt-approach.html
Why, then, does the national government need taxes? He counts four reasons:
(1) as an instrument of fiscal policy to help stabilize the purchasing power of the dollar; (2) to express public policy in the distribution of wealth and of income as in the case of the progressive income and estate taxes; (3) to express public policy in subsidizing or in penalizing various industries and economic groups; and (4) to isolate and assess directly the costs of certain national benefits, such as highways and social security. (ibid p. 268)
LINK/URL: Taxes do not pay for spending
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