Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,...
by djbusby on Thursday October 26, 2023 @10:41AM
(#38026218)
Yea. Tax those corporate profits and tax those wealthy C-suites. Then the taxes help those on the bottom rung; and the circle continues. Accumulation at the top blocks the flow.
Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,...
by KittenInABox on Thursday October 26, 2023 @10:38AM
(#38026194)
> companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade
This isn't true. Companies only started to maximize profits under shareholder value recently. Corporations originally were thought to have a responsibility to society at large, thus with things like pensions being provided to their employees.
Additionally, the small handouts to the poor are much more dwarfed by handouts to the employers at the time. Which made it baffling that large employers then raised prices anyways, when they already got the vast majority of covid relief money. No, it is pure greed.
The latter would fall into the bucket of government handouts to the bottom cause inflation, would it not?
If you're skipping the monetary interaction and saying "it's not the handout, it's the greed", then I'd like to point out that companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade.
That corporations would take advantage of poor people having more money to spend is intended behavior, and something that needs to be accounted for in functional monetary policy.