this post was submitted on 04 Nov 2023
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A Boring Dystopia
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Not at all. Look up MMT. Modern monetary theory and economics are well beyond "spend taxes to fund programs". Governments that issue debts in their own made up currency don't need to "spend" money, they just give money to the programs they support.
So money goes in and gets deleted, and then they create money and they give it away?
When I think of it, I do the same thing every time I buy something.
The money in my bank account doesn't get transferred, the bank just deletes it on their servers and then they create money and give it to the store.
As far as I understand that's the definition of fungibility, right? Every dollar is interchangeable and identical?
So there's no functional difference between deleting $1 and creating $1 except semantics, compared to moving $1, as long as the total value doesn't change.
The government just deleting money and printing money to pay for whatever it wants suggests that those things aren't equal, which would be the problem if it were true.
That’s what causes inflation. When you print more than you delete, at a rate faster than total economic growth.