Tax cuts don't need to be "paid for". Spending needs to be paid for...
...You are arguing that deficit spending is a problem -- I agree -- but that is a spending problem, not a tax problem. If you don't have the money, then don't spend the money, period.
Tax cuts reduce inflation longer-term by increasing supply and/or lowering costs. Businesses produce goods to make a profit. They have a cost of capital, and their hurdle rates (profitability) must exceed that cost. If taxes are cut, then the after-tax returns increase for producers, which incentivizes lower prices, greater supply or both. That's how tax cuts reduce inflation.
As for COVID regs, I'll give you a few examples. My wife has a volunteer position. Every week, she must get COVID-tested despite the fact that 1) COVID isn't dangerous generally speaking, 2) she's vaccinated and 3) she has natural immunity from prior infection. This testing policy is fucking insane. But aside from that insanity, someone has to pay for the cost of those tests, and both she and whoever is doing the testing has to spend valuable time to perform this theatrical ritual. Both are net drags on the economy -- it's literally wasting time and money. Another example are COVID vaccine requirements for employment, which have driven an unknown, but significant, number of people out of the labor force, thus reducing supply. That drives up labor costs and/or reduces supple. A third example are protocols related to cleaning. Every time we go to a hotel, airport, cruise ship, whatever, we see signs stating that some special bullshit was done to "sanitize" the area. Who cares? It's unnecessary from a health perspective, but the theater must go on at God knows what cost. Again, we're burning money.
Multiply shit like I've described across all businesses, transactions, etc., and you can see why regs related to COVID theater are hamstringing the economy. All of it should be terminated immediately.
|
(
In response to this post by CMUHoo)
Posted: 05/19/2022 at 4:13PM