Micah Lee 🫡

@micahflee ↗

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Last Checked Nov. 7, 2022

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Sun Jul 19 22:11:18 +0000 2020

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Micah Lee 🫡 @micahflee

@RobHolz @futral27 @StephanieKelton How about in 2017 when Congress passed Trump's $1.5 trillion tax cut for extremely rich people. That wasn't "paid for", it increased the deficit (and income inequality), but it didn't cause inflation. Because increasingly the deficit alone doesn't magically increase inflation — PolitiTweet.org

Posted July 19, 2020

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Micah Lee 🫡 @micahflee

@futral27 @StephanieKelton There isn't an upper limit on the national debt. The limits are on real economic resources: labor, equipment, technology, etc. "Debt" is a misnomer for the deficit. No one who will ever come to collect it, and US citizens don't owe anything — PolitiTweet.org

Posted July 19, 2020

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Micah Lee 🫡 @micahflee

@tb_well @futral27 @StephanieKelton The author is good at communicating ideas, and MMT seems to do a good job of describing what having a fiat currency actually means. If it's not actually descriptive of how currency issuers actually work, then I'd be curious to understand why you think that — PolitiTweet.org

Posted July 20, 2020