As the amount of currency approaches infinity, the value of the currency approaches zero
this post was submitted on 22 Sep 2023
0 points (NaN% liked)
Work Reform
9991 readers
138 users here now
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
founded 1 year ago
MODERATORS
So, what hadn't clicked until I watch this video, is that federal taxes don't 'pay for things', they are just the mechanism by which federal government ensures the currency has value: They compel us to pay taxes (via courts, police, etc.) and those taxes must be paid in the same currency, and so we have to do work to acquire that currency, and so it has value.
No, this is not how currency gets or keeps its value. The work itself is what creates value, which is paid back in currency. If you pay taxes, you transfer some of that value you created to the state. The money would not become worthless if the state did not collect taxes. Money is a way to transfer value, not to create it and taxes are like any payment just that, a transfer of value.
This other video at 29:43 also blew my mind, I just never thought about tax in that way, and it's embarrassing.
Summary for the video-impaired?
Basic mmt with a socialist touch.
Debt just means that the government decides to make something happen. It is neither inherently good or bad. It depends on the context. The biggest opponents are capitalist who want to stop good things from happening as this will reduce their profit. E. G. : more public housing would destroy the business case of landlords.