News for hackers. Stuff that matters.

A comment on U.S. annual inflation rate drops to 8.5%. Parent comment

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.

[ Parent | on HN ]
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.
[ Parent | on HN ]