Re:U.S. annual inflation rate drops to 8.5%
by dragonwriter on Wednesday August 10, 2022 @12:43PM
(#32414904)
> It seems that you're largely restating what the comment you replied to was saying
The comment I responded to said government can cause inflation by destroying money by increasing taxes.
That's backwards, destroying money is deflationary.
Re:U.S. annual inflation rate drops to 8.5%
by BuckRogers on Wednesday August 10, 2022 @07:17PM
(#32419669)
Oh my bad, I must’ve read the parent incorrectly. Rereading it now, I see my error. Yes I agree with you. It is a pretty simple concept. Any mechanism that reduces the amount of money in circulation has a deflationary effect.
I'm for low taxes of course. I don't know too many that aren't. But they have to make sense as well.
[0]https://www.thebalance.com/cost-of-trump-tax-cuts-4586645