I see fascist-brained fulks are talking about which taxpayers are 'net contributors' to society again. Quick reality check 🧵 The Govt issues and spends *tax credits*. Teachers, nurses, suppliers, etc get paid for their contribution to society in *tax credits*. [1/n] - ThreadSky

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musicalchairs.bsky.social • 25 days ago

I see fascist-brained fulks are talking about which taxpayers are 'net contributors' to society again. Quick reality check 🧵
The Govt issues and spends *tax credits*. Teachers, nurses, suppliers, etc get paid for their contribution to society in *tax credits*. [1/n]

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musicalchairs.bsky.social•25 days ago

People who aren't paid enough to eat, live in a house also get tax credits from the Govt. So do carers, parents, and our growing army of involuntarily-unemployed inflation-fighters. These folks use their tax credits to pay rent, rates, buy food, etc. [2/n]

musicalchairs.bsky.social•25 days ago

Our economy is a rigged game of hungry-hippos so tax credits soon get gathered up by folks who own rent-collecting assets like weatherboard shacks, share portfolios, property management companies etc. Wealthy folks use their tax credits to buy *more* rent-collecting assets [3/n]

musicalchairs.bsky.social•25 days ago

When Govt taxes back the tax credits it has issued, they obviously have to take more tax credits back from people that have gathered up the biggest pile of tax credits (they could do a better job tbf). Bizarrely, these rentiers complain that they are 'contributing' too much 🤣 [4/n]

musicalchairs.bsky.social•25 days ago

If you're a massive hungry hippo, you can exchange your big pile of tax credits for Govt Bonds. Then you get a nice safe return on your investment. Oh, and people will thank you for 'lending' that big pile of tax credits back to the Govt that issued them. Weird. [Ends]

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