I heard a very good theory on how to combat inflation.
The government collects an increased tax amount from the wealthy and holds on to that money, effectively taking it out of circulation, and over the course of the next 10 or 20 years you trickle it out into public services.
Boom, suddenly you took money out of circulation and helped people at the same time.
Reminds me of something Will Rogers wrote about Herbert Hoover:
This election was lost four and five and six years ago not this year. They dident start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickled down. Put it uphill and let it go and it will reach the dryest little spot. But he dident know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night anyhow. But it will at least have passed through the poor fellow’s hands. They saved the big banks but the little ones went up the flue.
I heard a very good theory on how to combat inflation.
The government collects an increased tax amount from the wealthy and holds on to that money, effectively taking it out of circulation, and over the course of the next 10 or 20 years you trickle it out into public services.
Boom, suddenly you took money out of circulation and helped people at the same time.
Reminds me of something Will Rogers wrote about Herbert Hoover:
That’s how trickle down economics should actually work.