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The Fed can't raise taxes.

• redeux 4y ago
  Not directly, but they can influence other policy makers to do so.
  • cscurmudgeon 4y ago
    1. Thats not their job. 2. Curious, did you call for lower taxes on the rich (which usually ends up being the middle class) when inflation was low?
    • redeux 4y ago
      1. I’m not sure why you think it’s not their job. If we did a responsibility matrix for the Fed, they wouldn’t be responsible or accountable for tax policy but they would be consulted. Obviously we want monetary and fiscal policy to work together for the most impactful outcomes. Government agencies and bodies advise each other all the time, and that’s a good thing. It’s call effective governance. 2. I’m not sure why that’s relevant to this conversation and I also reject your premise that tax cuts on the wealthy help the middle class. The last round of cuts made the corporate tax rate lower permanently and the individual and family tax cuts expire soon. Of course if you live in an expensive place like California or New York, you received a tax increase, not a cut.