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Comment on There's no money for education and health care but they'll always find some for war.

starbreaker@kbin.social ⁨11⁩ ⁨months⁩ ago

And if putting "too much" fiat currency into circulation is a real problem, then tax the shit out of the rich. Republicans under Eisenhower were OK with that in the 1950s. If that's unpalatable, why can't we tax corporate revenue instead of profit? It's not like I only pay taxes on what's left over after I've paid all my bills (though there is a standard deduction for individuals).

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PopOfAfrica@lemmy.world ⁨11⁩ ⁨months⁩ ago
I heard a very good theory on how to combat inflation.

You collect an increased tax amount from the wealthy and hold 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.

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- starbreaker@kbin.social ⁨11⁩ ⁨months⁩ ago
  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.
  
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- EatYouWell@lemmy.world ⁨11⁩ ⁨months⁩ ago
  That’s how trickle down economics should actually work.
  
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