And that’s all because they pretend that the debt subject to QE will sold back into markets one day, which would literally not now be possible: there’s just too much of it.
So, OK, we print money so that government can spend it. Shrug. At some point the economy returns to normal. That increase in the money supply is going to boost the inflation rate. Substantially. To which there are two responses. We can sell those bonds back to the market, collect the cash and cancel it. Or, we can do as MMT says, and raise tax rates to collect the money and cancel it. And if there’s too much QE to be able to sell the bonds then what will the tax rate have to be?