Jul 25, 2022

Inflation Buggery

As usual, inflation is a complex thing that takes some real thought and a level-headed approach to policy.

And, also as usual, we get all kinds of weird shit coming from politicians, bankers, and business folk, while normal humans get stuck with the check.

John Oliver - Last Week Tonight


The basic point is that government can do some things that ease the pain as the economy goes about fixing itself, and Oliver points at a few narrowly-targeted policies that would help a lot:
  • Child Tax Credit
  • Renters' Assistance
  • Offset the cost (and the inflationary pressure) by raising taxes on high-earners
Do that for a year or so, and things should regain a little balance.

In the meantime, it'd be a really good idea to push for a higher minimum wage (again, offset by a reasonable effort at tax equity), and better solutions for Social Security and Medicare.

Just doubling the Soc Sec tax limit would put that program in the black pretty much forever, and could even allow consideration of expanding other aspects of the overall safety net as Boomers die off.

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