Yes, billionaires must be taxed out of existence - eg, robber-baron style: 94%

[draljones@mastodon.social]

Yes, billionaires must be taxed out of existence - eg, robber-baron style: 94%

The primary reason for taxing them is to *decrease their power*, eg, to destroy democracy.

The feds do *not* need oligarch money for fed spending. As a sovereign currency issuer, the feds can *never* run out of their own currency.

Greenspan:
https://www.youtube.com/watch?v=DNCZHAQnfGU

Constraints on fed spending are not financial, rather, availability of resources & managing inflation.

#USPol #UKPol #AusPol #Economy #mmt .