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re: What is Trump's plan for inflation and reducing the federal deficit/debt?
Posted on 3/10/24 at 9:11 am to RogerTheShrubber
Posted on 3/10/24 at 9:11 am to RogerTheShrubber
quote:
Roughly where the Tax Cuts are.
Thought you were a conservative. Tax cuts are bad now?
Posted on 3/10/24 at 9:13 am to momentoftruth87
quote:
Thought you were a conservative. Tax cuts are bad now?
Tax cuts needs to be paired with decreasing government spending, otherwise you will run massive deficits (for a period, even theoretically if you can grow non-governmental GDP to make up for this gap, it takes years).
Posted on 3/10/24 at 9:15 am to momentoftruth87
quote:
Thought you were a conservative. Tax cuts are bad now?
They are fantastic. Unless you continue to grow debt at a higher rate. Like Trump.
Trumps tax cuts had no affect on cutting debt or decreasing spending. In economics they call his ideas "Modern Monetary Theory."
BTW: Thats also Bernies passion.
quote:
Modern monetary theory or modern money theory (MMT) is a heterodox[1] macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.[2][3] According to MMT, governments do not need to worry about accumulating debt since they can create new money by using fiscal policy in order to pay interest. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be addressed by increasing taxes on everyone to reduce the spending capacity of the private sector.[4][5]
You'll pay those tax cuts back in inflation, or even taxation at a later time.
This post was edited on 3/10/24 at 9:17 am
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