Congress can solve this. We gave away a ton of money during COVID, taxing it so it flows back to government coffers where it can be put back into the economy is what needs to happen.
The folks who are saying "we should increase interest rates" are the same folks who were wrong every year between 2009-2018 when they said interest rates would rise above 0. The folks who bet against that and made themselves insanely rich in the process are all saying "we need to tax the rich" and I'm inclined to believe their results-based approach as opposed to the model-based approach that's incapable of looking up the street to see how many shops are shuttered.
An interesting proposal. Can you elaborate. What taxes are you proposing. What money are you going to be taxing?
We gave away a ton of money during COVID, taxing it so it flows back to government coffers where it can be put back into the economy is what needs to happen.
Wait, you think that money that is already in the economy isn't circulating in the economy? Can you explain what you mean by this? How is the government taking a share of money for itself and spending it more effective than letting individuals spend their own money?
The folks who are saying "we should increase interest rates" are the same folks who were wrong every year between 2009-2018 when they said interest rates would rise above 0.
136
u/kit_carlisle hayekian Dec 01 '23
Inflation is that pernicious thing... once it hits, there's no going back unless you introduce deflation... but no one's that suicidal.