Spending In The World As We Know It by Christian Reilly

published on 2019-03-16T17:08:51Z

My first MMT song. That’s great it starts with a sovereign state Deciding that it needs to make Green new jobs and high speed trains It creates a currency When it demands taxes be Paid in a token that it creates exclusively If you don't pay it or you fake it Then you get incarcerated what you need’s the currency now you’re technically unemployed, looking for, work that pays, in the state's unit of account that only it creates It offers you employment When look at the alternative You can’t decline Spending more than they collect Is what they call the deficit And it’s just all the Dollars in the bank accounts that have been spent and not rubbed out By paying taxes thats a fact Oh oh. This means the Deficit is your asset When they spend it’s what you get Otherwise known as the national debt Government produces it Reducing it reduces the Money supply This is spending in the world as we know it This is spending in the world as we know it Government debt’s not what you owe it’s what you own yeah, it’s absolutely fine So why the hell we paying taxes if the money’s manufactured By the state when it spends It’s because the government Was voted in to do a thing To do a thing they need some things Like labour and materials But you don’t need their dollar bills That’s why they impose a tax In a token you don't have Now you need to work for it They spend em out and take em back They leave some in your pocket You can spend them at the market Because everybody needs Dollars for their tax bill or they’re going To get fined and sent to jail like Michael Cohen I’m sorry to make you think about Michael Cohen But I was desperate for a rhyme The other night I heard that chick Saying to a bunch of kids How you gonna pay for it? DIANNE FEINSTEIN Money is a tax credit Duh you can’t run out of it Type it in the central bank The people’s wish is its command If we got resources Money wise we can afford it Right? Right! This is spending in the world and we know it This is spending in the world and we know it You got the power of the purse it’s time to show it Sunrise knows it’s time This is spending in the world and we know it Planet’s burning up and we know it Time to save the world, the status quo ain’t Gonna work this time This is spending in the world and we know it This is spending in the world and we know it This is spending in the world and we know it Someone tell Jill Stein This is spending in the world and we know it This is spending in the world and we know it This is spending in the world and we know it Feel the Bern this time This is spending in the world and we know it This is spending in the world and we know it This is spending in the world and we know it It’s absolutely fine ========================================= If you're new to Modern Monetary Theory, here's a great, quick read: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Also, I do a whole podcast series on MMT: http://pileusmmt.libsyn.com