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> by inflation By average 2-3% a year inflation or by above-average heightened inflation (which hurts people)? https://www.google.com/search?q=inflation+tax h
by MuffinFlavored 2y ago
> by inflation
By average 2-3% a year inflation or by above-average heightened inflation (which hurts people)?
https://www.google.com/search?q=inflation+tax https://www.google.com/search?q=inflation+tax
- enceladus06 2y agoBased on the amount of debt, inflation may exceed 2-3%, and there will be complaints. To fix the debt load, a combination of inflation, taxes, and spending cuts will be needed. Additionally, the intergenerational transfer of wealth from Boomers to Millennials and Zoomers will occur over the next 20ish years as Boomers die off. This wealth transfer could be used to increase tax revenues. One tax that could be raised would be the estate tax, which would be unpopular among the wealthy, but if lowered to 1MM-1.5MM (maybe 10% rate) and over 50MM (50% rate) would help to fill the deficit. The more likely scnario is the government allows higher inflation rates and we have a bag of cheetos costing $10 in <10 years.
- tim333 2y agoWho knows but back 30 years the US consumer price index is up 2.13x. My guess is that in another 30 years the debt will be there but reduced in value by something like that. And the CPI tends to understate inflation a bit.