Reposted by Red Yūgen
The IMF calls cutting pensions and welfare "savings". Funny word for taking money off pensioners.
Tax doesn't fund spending. The Treasury isn't short of a pot. Tax banks to curb their power if you like. Cutting incomes just shrinks demand.
#MMT #UKGreenParty #Economics #UKPolitics #UKEconomics
theguardian.com
Target pensions or welfare, not banks, IMF tells John Healey | Banking | The Guardian
Supporters of planned tax, however, say banks were bailed out by taxpayers during the financial crisis and can afford to pay more now