Does raising taxes reduce inflation?

[TroglocratsRdumb]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

 

[task0778]

"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

Well first of all, this is kinda not true. Raising tax rates does kinda squelch economic growth (less money to spend) but that ain't the only way to do it. Raising interest rates is a better way and so is reducing gov't spending that does nothing to increase supply but does increase demand, hence inflation.

This is the same dipshit that wants to lower taxes for the rich guy living in mansions and raise taxes on the middle- and lower-income classes that were the main beneficiaries of the Trump tax cuts. What a douche.

 

[Toddsterpatriot]

Link?

Here's one.......

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

 

[TroglocratsRdumb]

Link?

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

 

[TroglocratsRdumb]

Schumer is another epic liar and despicable demagogue.
Are there really any people who like him or trust him?

 

[Care4all]

Slow the economy, reduce inflation.

Raising taxes on the wealthiest, or corporations, and/or raising interest rates are means to slow the economy....thus, slowing the rate of inflation.

 

[Missouri_Mike]

Slow the economy, reduce inflation.

Raising taxes on the wealthiest, or corporations, and/or raising interest rates are means to slow the economy....thus, slowing the rate of inflation.

Slow an economy that just shrunk by 1.4%. Good fucking plan.

 

[Dekster]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

I guess it will leave billionaires less money to buy tickets on faux space flights and thereby lower the cost of $50M tickets on such flights to like $49.9M due to lack of demand

 

[Care4all]

Slow an economy that just shrunk by 1.4%. Good fucking plan.

I guess we are heading in the right direction already, to stop inflation rates from continuing their increase rate.

Pick what you want, a hot as hell economy with inflation rates soring, or a lesser than hot as hell economy, and lower inflation rates.

At least under normal circumstances.

With this inflationary period we are in now... is not all a normal period, some of it can be attributed to supply issues due to businesses down sizing their inventory supplies during the first year and a half of COVID, and having a hard time getting their inventories up to the levels they need, to meet the high demand....

SOME businesses are purposely keeping inventory low, so they can price gouge us, as well.

It's a real mess....for sure!

 

[Moonglow]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

He tried but the GOP blocked it along with Manchin and the blonde gal..

 

[task0778]

Raising taxes on the wealthiest, or corporations, and/or raising interest rates are means to slow the economy....thus, slowing the rate of inflation.

And yet Schumer wants to reduce taxes on the wealthiest by giving them a bigger SALT deduction.

Ever hear of the term stagflation? Economic growth gets stalled but inflation doesn't, they ain't always in lockstep with each other. We have to find a way to reduce inflation without reducing economic growth as much, and raising taxes on the rich and big corps doesn't do that. Investments and innovation are curtailed and that ain't good for any economy.

The basic answer to the inflation problem is to stop gov't spending so God Damned much money that we ain't got. At it's heart inflation is all about too much money (demand) chasing too few goods and services (supply). We've been pumping so much free money over the past couple of years without the corresponding increase in production.

The basic answer to slow economic growth without more inflation is to make it easier and cheaper to produce stuff. IOW, let supply catch up to demand. But you gotta stop pumping money into the economy. I don't think raising taxes helps in that regard.

 

[Moonglow]

And yet Schumer wants to reduce taxes on the wealthiest by giving them a bigger SALT deduction.

Ever hear of the term stagflation? Economic growth gets stalled but inflation doesn't, they ain't always in lockstep with each other. We have to find a way to reduce inflation without reducing economic growth as much, and raising taxes on the rich and big corps doesn't do that. Investments and innovation are curtailed and that ain't good for any economy.

The basic answer to the inflation problem is to stop gov't spending so God Damned much money that we ain't got. At it's heart inflation is all about too much money (demand) chasing too few goods and services (supply). We've been pumping so much free money over the past couple of years without the corresponding increase in production.

The basic answer to slow economic growth without more inflation is to make it easier and cheaper to produce stuff. IOW, let supply catch up to demand. But you gotta stop pumping money into the economy. I don't think raising taxes helps in that regard.

Those fifty and thirty-five billion a year to farmers during Trump didn't help either what with his tariff wars, and how many trillions were thrown to the winds during 2020?

 

[Mikeoxenormous]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

Not that cutting 50% of the government for 5 years each year until you have a manageable size of government taking in under 3 trillion dollars but only spending 2 trillion dollars. What a fucking concept.

 

[Moonglow]

Not that cutting 50% of the government for 5 years each year until you have a manageable size of government taking in under 3 trillion dollars but only spending 2 trillion dollars. What a fucking concept.

Welcome to state-sponsored capitalism..

 

[WTH_Progs?]

Fuck raising taxes, doing so is progressive, gets worse all the time. Raise interest rates but there's an underlying problem there too. What we shouldn't have done is left interest rates so low so fucking long. It's market manipulation, look for the prices of homes to drop a lot, IMO.

Govt. spending sucks ass. These Demos want to raise taxes so they can corner more govt. power & capital. O'bummer pulled the same shit, fuck I know people who got RICH as fuck off govt. contracts, effective Obama. I'm also personally familiar with his impact & cost in govt., and how govt. workers were decorated as snowflakes, which triggered an ocean of inefficiency.

 

[TroglocratsRdumb]

And yet Schumer wants to reduce taxes on the wealthiest by giving them a bigger SALT deduction.

Ever hear of the term stagflation? Economic growth gets stalled but inflation doesn't, they ain't always in lockstep with each other. We have to find a way to reduce inflation without reducing economic growth as much, and raising taxes on the rich and big corps doesn't do that. Investments and innovation are curtailed and that ain't good for any economy.

The basic answer to the inflation problem is to stop gov't spending so God Damned much money that we ain't got. At it's heart inflation is all about too much money (demand) chasing too few goods and services (supply). We've been pumping so much free money over the past couple of years without the corresponding increase in production.

The basic answer to slow economic growth without more inflation is to make it easier and cheaper to produce stuff. IOW, let supply catch up to demand. But you gotta stop pumping money into the economy. I don't think raising taxes helps in that regard.

Schumer has been buying votes with his epic kick-back spending

 

[TroglocratsRdumb]

 

[Viktor]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

No, it does not. It only takes money from taxpayer consumers and gives it to the govt.

Schumer's total ignorance on most things is legendary. All he wants to do is get reelected by giving our money to his voters.

 

[Missouri_Mike]

I guess we are heading in the right direction already, to stop inflation rates from continuing their increase rate.

Pick what you want, a hot as hell economy with inflation rates soring, or a lesser than hot as hell economy, and lower inflation rates.

At least under normal circumstances.

With this inflationary period we are in now... is not all a normal period, some of it can be attributed to supply issues due to businesses down sizing their inventory supplies during the first year and a half of COVID, and having a hard time getting their inventories up to the levels they need, to meet the high demand....

SOME businesses are purposely keeping inventory low, so they can price gouge us, as well.

It's a real mess....for sure!

So what we need to do to stop this hot as hell economy, which shrunk by 1.4% it’s so fucking hot, is to really throw the brakes on and tax the fuck out of everyone and print more welfare checks. Good fucking plan.

 

[Big Bend Texas]

Senator Chuck Schumer (D-NY) said that the way to reduce inflation would be to get rid of the Trump tax cuts.
"If you want to get rid of inflation," Senator Schumer said, "the only way to do it is to undo a lot of the Trump tax cuts and raise rates."

https://www.realclearpolitics.com/video/2022/04/27/senator_chuck_schumer_get_rid_of_the_trump_taxes_to_stop_inflation.html

Comment:
How does raising taxes reduce inflation?
If Schumer really wants to raise taxes, then he should bring back Trump's SALT deduction maximum.

Well he's right in that taking money out of the private sector economy would tend to reduce inflation but that's never been a justification for raising taxes.