Mastodawn

Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.

Oil companies are on track to make tens of billions in windfall profits from Trump’s illegal war in Iran.

It’s their profiteering that’s driving up prices. It’s them who should pay.

It’s time for price caps on gas to stop oil companies from price-gouging Canadians — and a windfall profits tax on war-time oil revenues, so the government can invest that money in the public interest.

https://www.cbc.ca/news/politics/carney-fuel-excise-tax-affordability-9.7162911

#cdnpoli #gas

Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News

A day after sweeping three byelections in Ontario and Quebec that gave him a majority in the House of Commons, Prime Minister Mark Carney says he is temporarily removing the federal excise tax on gas and diesel.

CBC

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Icanbob 1d ago

@avilewis Agree with the sentiment, but MMT’rs like Stephanie Kelton would argue that the Canadian gov doesn’t need to tax anyone to invest in projects. Parties like the NDP would do well to listen to the MMT’rs narrative and stop parroting the same questionable neoliberal economic stories that the other parties have swallowed.

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dragonfrog 1d ago

@icanbob @avilewis
If you think MMT means "taxes are unnecessary now" you have probably misunderstood MMT.

Governments spend money into circulation, and tax it out of circulation. If they only spend it and never tax it, then the circulating pool of money grows too quickly: hyperinflation. Trust me that you don't want that.

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Jane Doe 20h ago

@dragonfrog @icanbob @avilewis That’s an incomplete analysis. The value of money is determined by the supply of money relative to the amount of value available to be purchased in the economy. As a result, printing money for public investment does not cause hyperinflation, because the additional value created by investment at least partially offsets the increased money supply.

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Icanbob

@avilewis @janef0421 @dragonfrog Here is my take on MMT.

https://energyasicit.ca/MMT/