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by hgomersall 496 days ago
Taxes don't pay for things at all in a monetarily sovereign country. The spending happens from new money creation. The tax (among other things) is about resource liberation to prevent inflationary pressure.
1 comments

I realize that and agree with this modern view on monetary policy but you cannot say they are totally divorced concepts because deficits do get accounted for based on difference between money raised with taxes and money spent.
It's important framing as it counters the prevalent view that the government can only spend once they have scraped together sufficient buckaroos into the necessary account, either through tax income or borrowing. From what you say, you get it, but most people do not. It's also important because it recognises that spending must preceed tax as a matter of causality. By necessity the consolidated government's cash accounts must be negative.