How should the US handle its debt?

[The Artist formerly known as Sappho]

Why blame MMT? It is the nature of the financial/monetary system.

Because tax is included within the Modern Money/ Functional Finance Theory. Because my discussion is directed at MMT and FFT and not the current hotch potch systems. Because both of these theories claim that tax 'should' form a part of the system without actually justify that beyond enslaving the people to its government. Because tax in a finite system is not about enslaving the people to its government, but rather about ensuring a common fund to be spent on the common good.

Please try at keep up Monk. It's the least you can do.

[Jovial Monk]

MMT argues that by doing what you claim, the currency becomes pegged to the market value of unskilled labour.

Can you explain the above now?

And it looks like you missed this:

As to tax, it provides some of the automatic stabilisers in the Budget.

Tax as enslavement is idiotic. It provides a way of measuring economic activity—how would we do that without money? And tax can be used in various ways to regulate and stimulate economic activity.

[The Artist formerly known as Sappho]

MMT argues that by doing what you claim, the currency becomes pegged to the market value of unskilled labour.

Can you explain the above now?

I already have Monk.

And it looks like you missed this:

As to tax, it provides some of the automatic stabilisers in the Budget.

That statement has no context nor reasoning that would allow one to make sense of it.

Tax as enslavement is idiotic. It provides a way of measuring economic activity—how would we do that without money? And tax can be used in various ways to regulate and stimulate economic activity.

You really don't understand MMT or FFT do you? Economic activity can be measured in numerous ways without requiring tax measures. Economic activity can be regulated in numerous ways without needing tax regulations.

The only reasoning that can be given for tax in a MMT/FFT system is to bind the citizen to the state in the same way that the slave is bound to the master.

[Jovial Monk]

You have not explained what you meant by your statement.

[The Artist formerly known as Sappho]

You have not explained what you meant by your statement.

Yes I have.

[Jovial Monk]

When you do feel like explaining let me know.

[Rainbow Moonlight]

Tax provides for the social good in general. It allows building roads, which benefits the private sector and workers. It keeps workers healthier. It provides an incentive to work in the form of the old age pension in retirement. It keeps a workkforce active and ready for employment. It helps prevent the spread of disease(which spread impacts on work and productivity. It helps educate a workforce. It helps provide infrastructure that supports for export and domestic sales.

[The Artist formerly known as Sappho]

When you do feel like explaining let me know.

It's already been explained. All you need do is look for it, then read it.

[The Artist formerly known as Sappho]

Tax provides for the social good in general. It allows building roads, which benefits the private sector and workers. It keeps workers healthier. It provides an incentive to work in the form of the old age pension in retirement. It keeps a workkforce active and ready for employment. It helps prevent the spread of disease(which spread impacts on work and productivity. It helps educate a workforce. It helps provide infrastructure that supports for export and domestic sales.

Yes, in a currency system that has finite currency, such as the sea shell standard in the example provided previously or the gold standard, that is the case. But in a currency system that has infinite currency, tax becomes irrelevant. If the people need a common good, then the government credit the funds needed for that common good to be created.

[Jovial Monk]

So you can’t explain it?

But the govt just spending can lead to inflation and hyperinflation.

Fiat currency allows the citizen to pay their taxes in an acceptable medium of exchange.