Read on Twitter
My own major twitter threads introducing basic #MMT concepts. (Image credit: @RealProgressUS)
Disclaimer: I am *not* an expert.
[THREAD v.2.1]
![My own major twitter threads introducing basic #MMT concepts. (Image credit: @RealProgressUS)Disclaimer: I am *not* an expert.[THREAD v.2.1]](https://pbs.twimg.com/media/EIXhBZtWoAE_a_a.jpg "My own major twitter threads introducing basic #MMT concepts. (Image credit: @RealProgressUS)Disclaimer: I am *not* an expert.[THREAD v.2.1]")
Disclaimer: I am *not* an expert.
[THREAD v.2.1]
#LearnMMT: What *is* money? What gives it value? https://twitter.com/MMTResources/status/1188962300981592069
#LearnMMT: Where does money come from? Who actually creates it? Who authorizes it to be created? https://twitter.com/MMTResources/status/1188963458890506245
#LearnMMT: The mechanics of *how* the federal government creates money (or more accurately, currency) and how it moves through the economy. This is done by a process called reserve accounting. https://twitter.com/MMTResources/status/1188960407345684481
#LearnMMT: Federal taxes don't fund federal spending. Federal spending funds federal taxes. https://twitter.com/MMTResources/status/1190683307270397955
#LearnMMT: Since federal taxes don't pay for anything, then why do we pay federal taxes? https://twitter.com/MMTResources/status/1188988696256765953
#LearnMMT: Bank created money (credit) versus Congress created money (currency, or high powered money, or HPM) https://twitter.com/MMTResources/status/1188965063304110081
#LearnMMT: We must tax the rich, but we can't "get" their money. https://twitter.com/MMTResources/status/1189001006081806338
#LearnMMT: What is the federal deficit, *really*? https://twitter.com/MMTResources/status/1189002612881932288
#LearnMMT: It is critical to understand the sequence of how the currency issuer creates its money (actually called "currency"). https://twitter.com/MMTResources/status/1188966866514935808
#LearnMMT: Inflation the Boogeyman versus inflation in reality. https://twitter.com/MMTResources/status/1188950819326091264
#LearnMMT: #MMT says that monetarily sovereign governments *do* create money to spend and *therefore* should use that power for public purpose – specifically, until full employment is reached. The ordering of this logic is critical. https://twitter.com/MMTResources/status/1188966866514935808
#LearnMMT: Created currency. https://twitter.com/MMTResources/status/1189005602577670145
#LearnMMT: When it comes to federal programs, only resources matter, not money. To even say "our fed gov't has plenty of money to give people healthcare," isn't just nonsensical, it is specifically designed to sabotage our efforts to actually get it. Ever. https://twitter.com/MMTResources/status/1189008845563219968
#LearnMMT: You and I are limited by money. The federal government (of economies such as the United States, U.K., Canada, Australia, and Japan) is limited by resources. https://twitter.com/MMTResources/status/1189265317056450561?s=20
Many reasons why the false idea that federal taxes pay for stuff is really, really bad. https://twitter.com/MMTResources/status/1190609729669812225
We must tax the rich, but it is **not possible** to use their money to "pay for" federal programs. https://twitter.com/MMTResources/status/1189001006081806338
A debt to the federal government, the sovereign issuer of the currency, is simply nothing like a debt is to you and me (as users of the currency). We can be *forced* to financially default. The issuer can’t. https://twitter.com/MMTResources/status/1228104657320411138
Does the United States ever need to borrow the United States dollar? No. https://twitter.com/mmtresources/status/1247414289360719872?s=21
Raising the minimum wage in a vacuum is not enough, because the problem of “wages are not high enough” is only a small part of the problem. https://twitter.com/ActivistMMT/status/1249570522452688896?s=20
How the central government in the US really, *really* spends into the economy. https://twitter.com/MMTResources/status/1253341681342050312?s=20
To #LearnMMT in general, here is a good place to start. https://twitter.com/MMTResources/status/1188935401827901440
