@osma What we're seeing here, is actually the money creation that's missing from neoliberal / neoclassical models of #economy.

The theories are still based on a loanable funds model (gold standard), and as such always treat government money creation as a risk of inflation.

But you can't actually have economic #growth without constant money creation. These IPO's and complex leverage schemes fill the gap, economists just treat it as magic, while telling that governments have to "tighten".

#MMT

@alecryan I'm all for taxing extreme wealth to protect our democracies, reduce inequality, and manage negative externalities. But it's only an accounting convention to count tax receipts as national income. We don't need to wait for the rich to pay for things; all federal spending creates new money. Conversely, federal taxes simply remove it from circulation.

Since I'm out all day you might just want to ask the interwebs why modern monetary theory (#MMT) says taxes don't fund national spending.

Canada Post propaganda alert: "Community mailbox conversions are a key element of Canada Post's plan to transform the postal service to meet the evolving needs of Canadians without becoming a recurring burden on taxpayers," Canada Post wrote in a statement." https://www.cbc.ca/news/politics/canada-post-door-to-door-delivery-addresses-june-9.7231990

Federal taxes do not fund federal spending. Management of Canada Post are making this claim to manufacture consent to defund a public service and then privatize it. https://www.mmt.works/mmt-taxes-do-not-fund-government-spending/

Even if you agree with claim that Canada Post 'loses' money, please be honest about its loss being our (Canadians' savings). If the 'real'/'full' cost of a stamp is $1.00, but I pay $0.75, then Canada Post's 'loss' of 25 cents, is my savings of 25 cents.

#Canada #Canadapost #MMT #privatization

@The_Whore_of_Blahbylon

it's more of a political decision in the US, not a fiscal constraint of tax revenue

afaik, it's a bit different in the EU because of the monetary but not fiscal union

I do wish more people would read The Deficit Myth by Kelton; they'd be much more angry about how badly they're getting screwed over for no good reason

#mmt

@joriki @Nonilex

The #NYTimes also reported on this

https://www.nytimes.com/2026/06/09/business/social-security-benefits-cuts.html

> By law, Social Security (unlike parts of Medicare) cannot use money from the federal budget’s general revenues to pay benefits.

This needs to be fixed. Problem solved. No "bipartisan commission" needed. I.e., fund #SocialSecurity with general "revenues" (itself a misleading term because it implies "revenue" from taxes or sales of Treasury securities is required *before* our gov spends $$).

#MMT #economics

@joriki @Nonilex
Well said. And in case ppl don’t believe joriki, I’ll cite the famous radical 😉 economist Alan Greenspan:

> …government cannot become insolvent with respect to obligations in its own currency. A fiat money system, like the ones we have today, can produce such claims without limit.

http://www.federalreserve.gov/boarddocs/speeches/1997/19970114.htm

#MMT

Yes, we should welcome immigrants and treat them fairly. It’s just that #SocialSecurity has nothing to do with it.