Recently, Doug Henwood critiqued Neochartalism aka “modern monetary theory” for many of its reactionary views.

More and more of Neochartalists’ reactionary views are becoming apparent now. So according to a recent Warren Mosler presentation at the New School, he proposes the following:

🤯

Not just that, he thinks that the 70% tax rates proposed by Alexandria Ocasio-Cortez “(d)oes not materially alter distribution of income”, “(d)oes not alter distribution of consumption” and “(d)elays alternative measures that are materially effective”.

Matt Bruenig has collected some other reactionary positions.

So for example, in a presentation in 2012 at Levy Institute, she has the following slide, proposing to eliminate the welfare structure: