Tootfinder

The nature of money and tax
Gary talks as though taxing and burning money would be an unusual strategy, as though tax money usually gets spent on things.
But tax money is always burned, the government is in deficit. Tax just goes towards paying off the government's overdraft. That overdraft *is* the money supply. Government debt is our money, and taxes pay off the debt.
He's right about everything else though. Taxing the wealthy has it's own social benefits even if you don't also spend on social causes.
#tax #economics #money

🧮 Greece’s Economic Odyssey: Persistent Challenges and Pathways Forward
#economics

Greece’s Economic Odyssey: Persistent Challenges and Pathways Forward
Two years after the COVID-19 pandemic, the Greek economy seems to have overcome the turmoil of the pandemic crisis as well as that of the following energy crisis. Nevertheless, it would be wrong to assume that the Greek economy has returned to a sound state, since this was not really the case even before the pandemic. Furthermore, the anemic growth rates of the pre-pandemic period were followed by an equally weak average growth rate (including the impact of the pandemic), as some of the signifi…

ukpol economics child-benefit cap
Apparently Labour are saying they need to get some economic growth in order to fund removing the child-benefit cap?
If they are saying that and meaning it and not just trying to manipulate voters, they do not understand economics in the tiniest little bit.
There are thousands of kids living in basically poverty conditions. They are not contributing to the economy, they have no money.
If they were to have some money, they would spend that money on good and services.
Those sales would be taxed! The wages of the extra staff employed to meet the increased demand would be taxed! The savings of the rich people who end up with that money in their off-shore accounts can be taxed!
Ending that benefit cap is how you get the growth! You give the poor money, they spend it, investment comes to meet the demand.
What is the actual plan otherwise? Let everyone stay poor so that there's no economic demand an so no private investment?
The idea that you can cut your way to growth is utterly deranged, the kind of backwards economic thinking you expect from a Conservative.
I do hope they're just lying to get elected again rather than actually believe the lunacy they say on the TV.
#ukpol #economics #childBenefit #Labour

🏃‍♀️ Economists report on a modest intervention that helps low-income families beat the poverty trap
https://phys.org/news/2024-05-economists-modest-intervention-income-families.html

Economists report on a modest intervention that helps low-income families beat the poverty trap
Many low-income families might desire to move into different neighborhoods—places that are safer, quieter, or have more resources in their schools. In fact, not many do relocate. But it turns out they are far more likely to move when someone is on hand to help them do it.