Found 2 comments on HN
dools · 2016-01-21 · Original thread
No, the position that I'm taking that taxation drives demand for currency is a core tenet of Modern Monetary Theory which is starkly in opposition to Monetarism on almost all issues[1][2].

Monetarism is the basis of the neoliberal agenda which enjoys near perfect adoption all over the world. It is the mainstream. Austrian economics is mainstream amongst "conservatives" and MMT is on the fringe of everything because it sounds too conservative to be progressive and too progressive to be conservative (and yet contains the most complete description of how currency works out of any of them!)

[1] http://www.amazon.com/Modern-Money-Theory-Macroeconomics-Sov... [2] https://www.youtube.com/watch?v=0zEbo8PIPSc

dools · 2015-11-30 · Original thread
It doesn't need to be "funded". Government spending creates money and taxes destroy it. The role of taxation is to drive demand for currency, and drain money out of the economy. It can also be used to disincentivise behaviour. But tax cuts don't need to be "funded", because governments have no issue with affordability -- they issue the currency.

Video on how this works: https://www.youtube.com/watch?v=i35uBVeNp6c

Book on how this works: http://www.amazon.com/Modern-Money-Theory-Macroeconomics-Sov...

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