Luke reads an article from the Lever which discusses how tax prep companies such as H&R Block and Intuit have rigged the system to prevent the government from processing people’s tax returns free of charge (return-free filling) and wasting billions of dollars each year.
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What is Modern Monetary Theory?
Modern Monetary Theory is the correct understanding of Macroeconomics.
It proves the following:
1) Taxes don’t fund government spending and
2) Deficit spending is good most of the time.
Simple Economics Facts:
Government deficit = Private sector surplus
Government debt = private sector savings
The constraint on government spending is the availability of real assets/resources in an economy, not the federal budget!
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