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You could tax the lifestyles and elite in question no?
by endisneigh 4y ago
You could tax the lifestyles and elite in question no?
- exabrial 4y agoOmg. When someone has a spending problem, literally nobody says "OH, go make more money!", we tell them to cull their bad habits. Raising taxes has _never_ balanced the budget.
- kmeisthax 4y agoNo, but taxing is a good way to pull dollars out of circulation and destroy demand. In fact, it's probably a better lever to pull than the Fed funds rate. The spending problem in question is deliberately supported by voters, who oppose lowering spending or raising taxes. Running the government on a deficit lets you simulate the benefits of economic growth without all that pesky growing.
- adra 4y agoNope, the "elite" will just pick up their money in trusts and corporations, then constantly take out loans against their equity and take out enough from their shelters to pay the interest.. because the interest is less than the taxes they dodge, they come out ahead. Maybe if you significantly increased consumption taxes you'd have a chance, but the "elites" will just buy their goods in another country. Net result, you're boned.