MMT Factsheet 3: If Taxes Are Not For Spending What Are They For?

I’m excited to share my latest factsheet. This one focuses on taxes: what they are not for, what they are for, and the myths that surround them.

Photo by The New York Public Library on Unsplash

These factsheets are part of my ongoing mission to make Modern Monetary Theory (MMT) more accessible. Whether you’re just starting to explore MMT or looking to dive deeper, these factsheets aim to break down complex ideas in concise, simple, digestible ways. As well as reading the factsheets in my regular newsletter format, you can download them as PDF documents.

In this factsheet, I explore how taxes function for a currency-issuing country and address some common myths around government spending and tax revenues. Understanding these topics is crucial to understanding how our economy works.

Become a paid subscriber to download all past and future factsheets, along with access to a growing list of MMT resources on the paid subscribers’ page. As always, I’m deeply grateful for all support, it’s what helps me continue creating content about MMT, whether it’s articles, podcasts or these factsheets.

I truly value your feedback. Please let me know what you think about the factsheet format and how often you’d like me to send them out. On that note, I’ve already received some helpful suggestions — and I’ll be acting on them.

Also, please send me suggestions for future topics.

Thank you for being part of this journey. Whether you’re a paid subscriber or a free one, your support and engagement mean a lot to me. I’ll continue to write my regular articles and produce my monthly podcast with leading MMT economists. Thanks again for your ongoing support.

After receiving feedback, I will now be publishing a new factsheet every three weeks.

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