1/ There is so much good in this video by @cenkuygur and @TheYoungTurks: The federal government prioritizes war over programs for the powerless. Like many many times over. But Cenk (and @commondreams) are SO wrong in HOW it’s presented. #LearnMMT
2/ The fed govt is not constrained by💰. The U.S. is a sovereign nation with fiat (non-gold backed) currency. It has infinite💰at its disposal. Whatever it needs, write it in a bill, vote it into law. BAM. New💰. (It SHOULDN’T create infinite💰, but it damn well could.) #LearnMMT
3/ State & municipal govts, and households, ARE constrained by💰, since they can’t create the currency. (Well, at the risk of going federal prison for counterfeiting, they could certainly try.) The fed govt (Congress) are currency ISSUERS. Everyone else are currency USERS.
4/ So, if the fed govt can create infinite💰, it logically follows that it needs no income. It doesn’t need taxes. It doesn’t need to borrow anything from anyone. Ever. This is admittedly a mind bender and goes against everything we’ve been taught.
5/ I’m just a stranger, coming at you out of the blue. (Although I did just start my third year as a @TheYoungTurks subscriber, so I hope that counts for something.) You shouldn’t just believe me. Do your homework. Meanwhile, here are economists confirming what I’ve just said:
6/ Economist L. Randall Wray: “Taxes are not needed to “pay for” government spending.” #LearnMMT nakedcapitalism.com/2014/05/randy-…
7/ Economist Bill Mitchell (@billy_blog) “Taxpayers do not fund anything.” #LearnMMT bilbo.economicoutlook.net/blog/?p=9281
8/ @StephanieKelton, Bernie Sanders’ economic advisor for his 2016 presidential campaign, and former Chief Economist to the U.S. Senate Budget Committee: #LearnMMT
10/ It’s a crazy, mind-bending concept, I know. But if you truly believe in #MedicareForAll & a living wage & free college & combatting climate change, it is absolutely critical that you understand this:

At the federal level (only), taxes do not “pay for” anything. #LearnMMT
11/ Why is this important? Because nonsense like this👇 guarantees that the powerless will never ever ever ever get Nice Things(TM): #LearnMMT
12/ Yes, Congress fights for an ever larger military, tax breaks for the rich, & all the mega-expensive programs benefiting the powerful. Yes, Congress fights tooth & nail against #MedicareForAll & all the moderately-expensive programs for the powerless. It’s unjust & a travesty.
13/ It’s unjust & it needs to change. We (the powerless) don’t need that big a military. We certainly don’t need tax breaks for the rich. For the powerful, war & tax breaks are a luxury (profit, power, & access to resources). For the powerless, #MedicareForAll is survival.
14/ But here is “why” it’s so important to understand that taxes don’t pay for anything: Bc although we need to deal with the injustices of a too-big military & rampant income inequality, we do not need💰FROM these things IN ORDER to “pay for” #MedicareForAll or other programs.
15/ Saying “IN ORDER to pay for #MedicareForAll, we must reduce or take💰FROM the military,”... it pits us against those who are hell bent on protecting our country or profiting off of war. They will fight us tooth and nail, and we will never get #MedicareForAll.
16/ Saying “IN ORDER to pay for #MedicareForAll, we must increase taxes on the rich,”... it pits us against, well, the rich and the powerful. They will fight us tooth and nail for their tax breaks, and we will never get #MedicareForAll.
17/ That’s exactly what this shit does👇: pits the powerless against powerful. It’s a battle the powerless will always lose. “The average taxpayer contributed X to the military” is meant to enrage the people: “STOP USING MY💰 FOR WAR! USE MY💰 **INSTEAD** FOR #MedicareForAll!”
18/ (A huge military and tax breaks for the rich are not a reflection of what the American people “pay for,” they’re a reflection of the decisions of the Masters of the Universe, to keep the powerful powerful and the powerless powerless.) #LearnMMT
19/ The entire concept of "pay-for" is a sham & a scam, & a trap & a trick. The second we bring up how to “pay for" #MedicareForAll, the conversation switches from the benefits of #M4A to, "You don’t care about defending this country!" Or, “You just want to penalize success!”
20/ The travesty of the “pay for” trap is not that "we are paying for a ridiculously large military when we could INSTEAD pay for #MedicareForAll." The real travesty is that the American people have been tricked into believing that we can’t have both at the same time.
21/ That’s exactly what these statements imply👇. It’s all wrong. We don’t have to choose. We can "afford" a ridiculously large military & tax breaks for the rich...AND #MedicareForAll AND free college AND a living wage AND everything the powerless need to survive and thrive.
22/ We don’t have to choose. The United States has plenty of real resources at its disposal. We can have both.

Let the rich have their toys. For now.

After we get #MedicareForAll, **THEN** we can deal with the injustices of a too-large military and rampant inequality.
23/ Conflating these battles (getting critical programs, how to “pay for” them, & dealing w societal injustices) is killing us. It guarantees we will never ever get them. Here’s my article about the pay-for trap, inspired by (& quotes) @StephanieKelton: citizensmedia.tv/2018/04/12/mmt…
24/ You teach & inspire millions. @TheYoungTurks & @jimmy_dore are my primary sources of truth. You have got to do better with this. The basic information in your TYT video (in part 1 of this thread) is all fine, but the framing is WAY off. Please #LearnMMT
25/25 Thanks for listening, @cenkuygur.

Here is my mini #LearnMMT twitter tutorial. There are lots of resources at the end to learn more:


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More from @citizensmediatv

Aug 23, 2018
Broadcast last night by @TheYoungTurks: “Republicans ADMIT they’re coming for your Social Security and Medicare.“ Almost 50,000 views as I write this.
@AnaKasparian (45sec): “It is going to add $1.9 trillion to our federal deficit over the next 10 years.”

Why is increasing the deficit a bad thing? Yes, it should go to the many, not just funneled to the few, but what specifically is wrong with an increasing deficit?
Without a deficit, the American people have no value. They have no investments, no bank account, nothing in their wallet. Without a deficit, the American people are completely choked off from their government. Without a deficit, we have no society.
Read 14 tweets
Aug 19, 2018
“Then why does the military budget keep going up as social programs keep getting cut?"

Now that’s a good question.


[thread – version 2]

You and I require income (a paycheck) before we can spend. We must choose and prioritize what each dollar is spent on. Food or medicine? Can’t afford both this week. Or... gotta chop that pill in half so we can buy food for our kids. Hard choices. One or the other. Either/or.
Before Nixon took the US dollar off the gold standard in 1971, the federal gov't was the same way: they needed income (i.e. taxes) before they could spend. Now that the US dollar is a "fiat" currency, "a budget" to me and you is


like "a budget" to the federal gov't.
Read 34 tweets
Aug 3, 2018
"Then why does the military budget keep going up as social programs keep getting cut?"

Now that’s a good question.


You & I require income (a paycheck) before we can spend. We must choose & prioritize what we spend each $ on. Food or medicine? Can’t afford both this week. Or...gotta chop that pill in half in order to buy bread & eggs to feed our kids. Hard choices. One or the other. Either or.
Before the United States went off the gold standard in August of 1971, the federal government was exactly the same way: they needed income (taxes, borrowing) before they could spend on federal programs.
Read 33 tweets
Apr 16, 2018
1/ An analysis of the first three paragraphs of the audacious smear job article tearing down a great woman, @ninaturner. (We got your back @ninaturner. ✊👊💪🙏) #receipts
2/ Paragraph one: That “Deep State conspiracies” link? The words “Nina” and “Turner” are nowhere to be found in the linked article.

3/ The link about the uranium one conspiracy? Her actual quote has nothing to do with what the linked article accuses her of (and what Fassler so easily, excitedly, and enthusiastically perpetuates).

Read 13 tweets
Apr 12, 2018
If you REALLY want #MedicareForAll, then stop talking about how we will “pay for“ #MedicareForAll.

#MMT #LearnMMT

An insightful response to our article on avoiding the “pay-for” trap.

Article: citizensmedia.tv/2018/04/12/mmt…

Comment: nakedcapitalism.com/2018/04/true-a…
And another:

As citizens, we make demands from our reps, it’s their job to deliver on those demands & sort out the details properly.

Me: “I want #MedicareForAll
Rep: “How RU going to pay for that?”
Me: “Stop making me do your job. You wanna be a leader? LEAD!”

Read 13 tweets
Apr 9, 2018
The first of four parts of my interview with @NinaTurner, at Saturday's @OurRevNJ "People's Platform" event. Flint water is still poisoned after four years, yet "we are consumed by the man in the White House. We are consumed by him."
Nestle was granted water bottling rights by Michigan. Despite 80,000 public comments against (only 75 in favor), "the agency concluded that the company's plan met w legal standards." So, what?, they're legally obligated to grant the company these rights? npr.org/sections/thetw…
Twenty-four hours later, Michigan Governor @GovRickSnyder announces no more water bottles will be freely supplied to Flint residents.

America is broken. We need a revolution.

Read 11 tweets

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