Tax Policy for Sovereign Nations

L. Randall Wray

Chapter 5 in Modern Money Theory, 2015, pp 137-157 from Palgrave Macmillan

Abstract: Abstract We have argued that taxes drive currency. Sovereign government does not need taxes for revenue, but to create a demand for its currency. With that in mind, we need to rethink tax policy. How best to drive the currency? What kinds of taxes are best? Besides driving a currency, what else can taxes be used for? We explore such issues in this chapter.

Keywords: Current Account Deficit; Demand Deposit; Public Purpose; Sovereign Government; Sovereign Currency (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1057/9781137539922_6

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