>> that cutting taxes, and having no way to pay for them, in the midst of rampant inflation is an idiotic idea.
Let's see what happens here in the U.S. :-/
Let's see what happens here in the U.S. :-/
Money needs to be taken out of circulation, not added.
... and who has a large balance of historical debt?
I can definitely understand arguments and debates around the proper level of taxation. But while it may be acceptable and even a good idea to substantially lower taxes and raise the deficit during periods of low inflation, it is the height of idiocy to do that during a period of high inflation.
“CBO estimates that Public Law 117-169 will result in a net decrease in the unified deficit totaling $58.1 billion over the 2022-2031 period. That decrease in the deficit is estimated to result from an increase in direct spending of $50.6 billion and an increase in revenues of $108.7 billion.”