A pretty good story. The greatest risk of MMT is the one near the end of your story. Since Congress will be controlling the money supply, mismanagement is almost certain. Congress is hostage to elections which are decided by lobbyists, donors and voters all whom will demand their interests be put first. You also noted (obliquely) that the rich can always take their money someplace else if they need to avoid taxes and inflation. MMT will require capital controls to prevent capital flight and that will be a deal breaker for those who hold the real reins of power.

MMT takes power away form the Fed and from the United Neo-liberal/conservative Plutocratic Oligarchic Elites - the Powers that Be. MMT like effective action against Climate Change is hostage to powerful moneyed interests.

Government printing money is not always inflationary. I know you said so but it needs reinforcing. It depends on how the money is spent. If the government prints money to spend on projects that are investments (like infrastructure and education) that produce returns greater than the cost of capital then that money printing is actually deflationary.

TEK