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Podcast: Debunking Economics - the podcast
Episode: Crazy Taxes
Description: Most people agree that Rishi Sunak is crazy to introduce new taxes on the British public when inflation is compromising living standards and the Bank of England is lifting rates and pushing up the cost of mortgages. Now a war in Europe is pushing the cost of fuel ever higher. But the Chancellors argument is that the government has to pay back the money it borrowed during the pandemic. If it did, it would take decades. But, as Steve Keen explains in this week’s podcast, Modern Monetary Theory suggests the money doesn’t need to be paid back, and tax...