Re:FDIC set to take First Republic Bank into receivership
by jtbayly on Saturday April 29, 2023 @11:28AM
(#35753843)
In 5 years a roll of TP would cost $1.4T, but we could just remove a few zeros every year or so, amiright?
Re:FDIC set to take First Republic Bank into receivership
by danenania on Saturday April 29, 2023 @11:52PM
(#35759562)
Inflation is the most regressive form of taxation there is. I'm in favor basic income, but if you try to just print it all, prices will increase to the point that there won't actually be a meaningful increase in purchasing power.
Imagine if the Fed just printed up 10 million dollars for everyone tomorrow. Do you think everyone would then be wealthy?
I think people think printing money causes inflation, and in general “know” that you shouldn’t “spend more than you make”… but I think things are different when you can print money.
It would actually be a very efficient means of fund raising (vs the current tax code), as well as fighting income inequality (the basic income), and even if it did cause inflation, that’s basically just a very efficient progressive wealth tax (when coupled with a universal basic income).