taxation removes money from the overall monetary supply. Central banks can’t ‘run out’ of money and do not require that spending be ‘matched’ to a tax base. There is a practical limit on how much money can be printed, in terms of productive capacity but also inflationary pressure, but mostly the boomer narrative of ‘fiscal responsibility’ is there to discipline popular expectations about social services and public spending generally. The logic of austerity is a leash around the neck of the working class, working silently to condition them to interpret spending which benefits their class interests as being ‘irresponsible’.