Comment by UK-AL

MMT isn't a set policies. It's a description of how money works, when you have fiat currency.

Government is a source of money. Taxation is a sink. Too much money in the system you get inflation, not enough deflation.

When you can print money taxation is just a way of controlling the amount of money in the economy almost by definition because you don't need tax to fund yourself when you can create money. Bonds just provide a stable financial instrument rather than a source of funding because you can literally just print money if you wanted to.

The constraint on money is mainly inflation, and government debt and tax is used to control the money supply.

That's it.