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this post was submitted on 26 Aug 2023
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the_dunk_tank
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ok but public transit in a town is gonna be funded by some grants probably and then operated on rider fees and local taxes. Gary Indiana isn't sovereign and Mississippi can't afford shit.
that failure of the federal government has nothing to do with what i was talking about.
on a local level the local taxes we all pay are directly in the budget for that spending. we literally vote on 0.025% property tax increases to pay for specific local projects.
"taxes do not fund government spending" is literally false for entities that don't control the currency or those resources.
Any tips on where I can learn more about this concept?
Modern Monetary Theory. From an purely economic perspective, SimulatedLiberalism is right.
Think of taxes as an olympic sized swimming pool, a politician may say they are raising taxes to dump a new bucket of water into the pool, but some guy comes around once a month to drain or fill the pool so it always stays level.