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"The government doesn't want dollars," Mosler
explained. "It wants something else."
"What does it want?" I asked.
"It wants to provision itself," he replied.
"The tax isn't there to raise money. It's there to get
people working and producing things for the
government."
-Warren Mosler, quoted by Stephanie Kelton
The Deficit Myth (2020)
It is necessary for a government to tax in order to
maintain both its independence and its solvency is true
for state and local government, but it is not true for a
national government. The public purpose which is served
should never be obscured in a tax program under the
mask of raising revenue.
-Beardsley Ruml
Chairman of the Federal Reserve Bank
Journal of American Affairs (January 1946)
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