Episode 107: Modern Monetary Theory The Government as Referee, Player, and Scorekeeper
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The History of the Dollar Tax
In the old days, they used to just go out with an army and conquer people. Now we pretend to be more civilized, we use a monetary system,. But what we're actually doing is imposing a tax liability on the population one way or another. The purpose of the tax is to create sellers of goods and services that the government wants to take from the private sector to provision itself. And it does it by purchasing them. It creates sellers of looking for money, people looking for the dollars specifically in this case. So number one is a tax liability. Number two, government can now make purchases and number three, the tax gets paid.
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