this post was submitted on 04 Nov 2023
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A Boring Dystopia
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You are aware of the fact that central banks are usually independant institutions and whenever the government meddles with them, that countries currency gets fucked by the market?
Also in todays interconnected financial and real economy there is only so much control any government canexert iver its currency, because the currencies values is significantly determined by the exchange from imported and exported goods.
While both points are true, that still doesn't change whether taxes fund these programs.
Sure there are other complexities like "how much is too much? Can we just keep doing it forever?" but those questions have more to do with the labor force of said country and their exports, and almost nothing to do with their tax rates.
The central banks control the amount of money based on the tasks they were given for their operation. That does not relate directly to the way the government is spending or taking money.
It is simply not the governments taxes and spending that is making or deleting money. It is the system of how the private banks can borrow or deposit money at the central bank with a certain interest rate,that is making or deleting money.
And youll have noticed that it is not the central bank granting loans to the government but bonds being sold on the market for the government to take debt.