The very best way to end inflation FOREVER is to implement a 50% Discount/Rebate policy at retail sale and tax the ass off of any commercial agent who inflates their prices despite the tremendous increase in demand and the equally tremendous tax cost savings that the 50% Discount/Rebate policy and the rest of the policies of the new monetary and financial paradigm effect. Every retailer who opts into the rebate aspect of the policy would have to pledge not to increase their prices unless their total costs exceeded the above taxation cost savings or risk a 100% tax on any revenue they may have garnered from such unallowed price increases, the loss of the new paradigm tax cuts and ultimately loss of their rebate privileges for serial breaking of the rules.
"...the best way to fix a supply shortage is with greater supply."
OK. But what do you do when supply chain issues prevent the availability of greater supply--at least in the short term? Are we (the little people) supposed to be content with paying higher prices for stuff that can't be offset with higher wages? Why isn't "the best way to fix a supply shortage" the imposition of price controls enforced by the gov't? Maybe I've missed it, but I haven't read anything in the popular press that answers this question. After all, it's the power of the gov't that creates the money we covet and use to exchange for goods and services. Why is the gov't suddenly powerless when anyone suggests price controls? Desperate times call for desperate measures. Not for nothin', but price controls won WWII.
BTW, thanks for citing the Randy Wray talk. He is a genius and a national treasure.
Big Oil kick started inflation just as they did in the 70s . Back then their enemy was independent oil companies , today it’s alternative energy and governments that invest in clean energy . Back then they brought the golden age of American capitalism to an end now they are part of a global right wing dark money movement to replace democracy. Back then they were called a bilateral symbiotic oligopoly. Today Big Oil and Putin are in their leadership .
I wonder if taxes on spenders is more equitable than increasing unemployment? IOW, we’ve (the royal we) once again chosen austerity (a manufactured recession) to lessen demand vs (politically impossible) middle class taxes. I’m not advocating for either but am curious.
I watched the L. Randal Ray presentation. Simply amazing. The history and the religious terminology commonly used in finance and economics, (redemption) of debt and the flow of atonement. So if Creation precedes Redemption, what creates the debt? Baptism, and the assumption of inherited Debt.
This answer reveals a core flaw of MMT. No one will ever agree on what’s driving the inflation and therefore no one will ever agree on the need to raise taxes when it arrives! How do you think we got into this mess in the first place? The left will blame supply chains or whatever. The right will blame the money printing. We are political beings. There is no objective view or what’s driving what in democracy. If you want MMT, China is probably the closest you’ll get given a one party state with linked fiscal/monetary policy. Of course they have other severe problems with their economic model.
That was good thanks! I would add increasing the amount you can contribute to your 401k and IRA annually as another tool like they did with freedom and War bonds during WW2.
Yes!!! 90% tax rate on any income over half a million dollars...Pay up or prison...Mark
The very best way to end inflation FOREVER is to implement a 50% Discount/Rebate policy at retail sale and tax the ass off of any commercial agent who inflates their prices despite the tremendous increase in demand and the equally tremendous tax cost savings that the 50% Discount/Rebate policy and the rest of the policies of the new monetary and financial paradigm effect. Every retailer who opts into the rebate aspect of the policy would have to pledge not to increase their prices unless their total costs exceeded the above taxation cost savings or risk a 100% tax on any revenue they may have garnered from such unallowed price increases, the loss of the new paradigm tax cuts and ultimately loss of their rebate privileges for serial breaking of the rules.
"...the best way to fix a supply shortage is with greater supply."
OK. But what do you do when supply chain issues prevent the availability of greater supply--at least in the short term? Are we (the little people) supposed to be content with paying higher prices for stuff that can't be offset with higher wages? Why isn't "the best way to fix a supply shortage" the imposition of price controls enforced by the gov't? Maybe I've missed it, but I haven't read anything in the popular press that answers this question. After all, it's the power of the gov't that creates the money we covet and use to exchange for goods and services. Why is the gov't suddenly powerless when anyone suggests price controls? Desperate times call for desperate measures. Not for nothin', but price controls won WWII.
BTW, thanks for citing the Randy Wray talk. He is a genius and a national treasure.
Big Oil kick started inflation just as they did in the 70s . Back then their enemy was independent oil companies , today it’s alternative energy and governments that invest in clean energy . Back then they brought the golden age of American capitalism to an end now they are part of a global right wing dark money movement to replace democracy. Back then they were called a bilateral symbiotic oligopoly. Today Big Oil and Putin are in their leadership .
A Lot more to be done than just tax: unions, financial regulation, etc.
I wonder if taxes on spenders is more equitable than increasing unemployment? IOW, we’ve (the royal we) once again chosen austerity (a manufactured recession) to lessen demand vs (politically impossible) middle class taxes. I’m not advocating for either but am curious.
I watched the L. Randal Ray presentation. Simply amazing. The history and the religious terminology commonly used in finance and economics, (redemption) of debt and the flow of atonement. So if Creation precedes Redemption, what creates the debt? Baptism, and the assumption of inherited Debt.
This answer reveals a core flaw of MMT. No one will ever agree on what’s driving the inflation and therefore no one will ever agree on the need to raise taxes when it arrives! How do you think we got into this mess in the first place? The left will blame supply chains or whatever. The right will blame the money printing. We are political beings. There is no objective view or what’s driving what in democracy. If you want MMT, China is probably the closest you’ll get given a one party state with linked fiscal/monetary policy. Of course they have other severe problems with their economic model.
That was good thanks! I would add increasing the amount you can contribute to your 401k and IRA annually as another tool like they did with freedom and War bonds during WW2.