Ignorance must truly be bliss…
I would be much happier if I lived a in a dimension as delusional as you.
that is backed by the full faith and credit of the U.S. government.
And what gives our government the essence of full faith? The ability to crate more currency(a stable of MMT) and the fact that it is the ONLY thing accepted for payment of a tax liability. The U.S. can never go insolvent!
Whether you believe it or not has no bearing on it’s truth. It IS the way our monetary system works on the federal level. It doesn’t work like a personal or business budget.
Never said it did.
And that IS what MMT describes.
You got it ESL student
But they create that money through taxation.
The only thing that actually creates value is the work/effort put in to something.
So, if you come to me and have 2 steel plates that are worth say, 200 cryptowidgets, and want them welded at 90° with 4 holes in each, I’m going to charge you 1000 cryptowidgets.
The value of those 2 plates just increased 800 cw because of the work/effort I put into them.
And I’m going to be taxed about 30% on that 1000.
So that full faith and credit is backed by all of the work output of all of the people in the united states.
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I don’t understand how there is a difference between the two…
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There isn’t.
Redistribution requires a heavy hand that holds the monopoly on violence.
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Nuh uh! Not if everyone agrees to stop being greedy!
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Here you are primarily talking about human capital. A completely different thing. Not monetary value, strictly speaking.
No they do not. The federal government is not dependent on tax revenue. They are the issuer of the currency as opposed to everyone else who is the user of the currency.
One is run by the state the other by the people. Big difference.
Not nearly as heavy as the ultra-wealthy. The law protects property and capital, not the population.
Which branch of the Federal Government does the Federal Reserve belong to? I wasn’t aware of the Federal Reserve provision in the US Constitution that creates as part of the Federal Government the Federal Reserve … which, as I’m sure you know, prints and issues the currency…can you point that out for me … thanks in advance…
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Probably not a wise choice to argue law with an attorney…just sayin.
Also, socialism has been taken to its fullest extent which was seen in the USSR. Yeah, Stalin never wielded massive violence against his own people… 
How is wealth redistributed in the one run by the people? Say, A Guy wants to keep more than The People wish to allow him. What happens?
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What happens to the value of the USD if everyone, and I mean everyone, refused to pay their taxes?
Or stopped using it for all other transactions. How would taxes be assessed?
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No. Im talking about creation of value.
Human capital is the volume and composition of a willing workforce.
What is the currency that members of congress, the president, or any other employee of the federal government is paid in, and where does it come from?