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Why Kamala Harris Will Not Bring Prices Down. Her Plan Needs Inflation | dlacalle.com
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this post was submitted on 03 Sep 2024
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Spending is entirely divorced from revenue. That's how we run deficits.
We've played the "cut taxes first, cut spending later" game since Carter, and I dare you to show me three consecutive years where the deficit actually contracted.
Sectors that run high margins are defacto not productive. They are assigning large mark ups over the real cost of production.
If you want to reduce inflation without hitting productivity, you need to extract taxes from these high margin businesses.
Once shrinking your margin becomes a tax avoidance strategy, wages rise and prices fall.
Targeted high margin taxation is a proven strategy for deflating prices. But this requires a level of education that goes beyond Econ 101.
@UnderpantsWeevil
If your government is in debt, then it spent any money it took in in taxes minus the overhead.
Once you complete Econ 101, you might want to explore the idea of credit and debt in a subsequent class.
@UnderpantsWeevil
Keep guessing about my CV.