PORTUGUESE OPPOSITION PARTIES DEFEAT GOVT AUSTERITY
Posted by WARREN MOSLER on February 5th, 2010
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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
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The funds to pay taxes and buy government securities come from government spending.
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