Micah Lee 🫡

@micahflee ↗

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Last Checked Nov. 7, 2022

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Mon Jul 20 02:15:29 +0000 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

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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

@tb_well @futral27 @StephanieKelton Foreign governments own a large percentage of US Treasuries, yes, but that's not the same as "debt" -- it's fundamentally different than, for example, a personal holding a mortgage, because the US creates the dollars and the treasuries. Btw did you read the Deficit Myth? — PolitiTweet.org

Posted July 20, 2020