Birdwatch Note Rating
2024-08-06 06:39:25 UTC - HELPFUL
Rated by Participant: 1B496DB93F4E6E096DC40A0B48CAC0E728BAAE7E272F4416AB7A90A4EFC8A0ED
Participant Details
Original Note:
The largest source of government revenue is taxes, not printing money. When the Fed buys Treasury securities, it credits the reserve accounts of banks with the money. This can increase the money supply, but it’s not the same as printing money in the traditional sense https://www.federalreserve.gov/monetarypolicy/openmarket.htm https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government
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