Taxes serve a different purpose than funding government programs from "summary" of The Deficit Myth by Stephanie Kelton
Taxes play a crucial role in our economy, but not for the reasons most people think. The prevailing belief is that taxes are primarily collected to fund the government's spending. However, this is not the case. In reality, taxes serve a different purpose altogether. The purpose of taxes is not to raise revenue to fund government programs, but rather to drive the currency. Taxes create a demand for the currency by requiring individuals to pay their taxes in the government's money. This creates a need for people to earn that money in order to meet their tax obligations. In essence, taxes create a market for the currency and give it value. By understanding the true purpose of taxes, we can see that the government does not need to collect taxes in order to spend. In fact, the government can spend first...
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