Economics

Funny how easily the "stimulus checks devalue the dollar" narrative took hold when they were dwarfed by the subsidies for corporations and wealthy people's businesses, tax breaks for the rich and running a global empire of 800+ military bases.
Could be solved by very high taxes on the rich deleting money supply.

This video proofs your claim wrong that taxing billionaires does any good. 

I am not sure how any kind of taxes can effectively prevent the devaluation of a currency. Taxes are fiscal. Valuation is monetary.

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This video proofs your claim wrong that taxing billionaires does any good. 

I am not sure how any kind of taxes can effectively prevent the devaluation of a currency. Taxes are fiscal. Valuation is monetary.

https://youtu.be/b5O-fY4gkDc

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The USA prints new money when it spends money (or authorizes banks to create money), increasing the supply. It deletes money that it receives in taxes, reducing the supply. This is called modern monetary theory.

He also says Europe is a dumb market, rent control never works and socialism always fails so I guess I disagree with everything I've seen him say so far.

John Cochrane will also tell you that MMT doesn't work. MMT is a theory that is nowhere implemented.

So, just fundamentally, the taxes that the state receives today are not burned. They are used as revenue to further fund government programs. The current system does not reduce money supply like MMT says.