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A comment on America's 1% Has Taken $50T From the Bottom 90%. Parent comment

Re:America's 1% Has Taken $50T From the Bottom 90% by glsdfgkjsklfj on Thursday February 11, 2021 @04:53PM (#26107878)
> by providing liquidity, which has the side effect of causing bad things because it lets the rich accumulate wealth.

curious, what if the people driving that engine opted for wealth tax instead? Wouldn't that be a win-win and your phrase could have been instead:

> by providing liquidity, with no side effect such as causing bad things because it lets the rich accumulate wealth.

¯\_(ツ)_/¯

[ Parent | on HN ]
Re:America's 1% Has Taken $50T From the Bottom 90% by tylerhou on Thursday February 11, 2021 @05:05PM (#26108014)
The Fed doesn't the power to enact a wealth tax. It's powers were delegated to it by Congress. Congress does have the power to enact a wealth tax. But it chooses not to. The way to change that is by voting.
[ Parent | on HN ]