this is an MMT view only in the sense they emphasize they support high taxes on the rich even though they argue it's not necessary for revenue purposes. 1/

i am not claiming taxes in general are not necessary to finance govt (to be fair, neither do MMT-ers!), but that this particular tax should not be understood as motivated by revenue generation but by its effect on private incentives. 2/

middle-class taxes finance government in the most straightforward way, they reduce purchasing power that would otherwise bid up the price of goods and services, enabling noninflationary government spending. 3/

but high marginal tax rates at high income should be understood like Manhattan's congestion taxes: the revenue is nice, but it's not primarily motivated to raise revenue or offset the inflationary effect of other government spending, but to alter the incentives and behavior of private actors. 4/

(i'm don't think MMT economists would disagree with any of this, btw!) /fin