Comment on Why Kamala Harris Will Not Bring Prices Down. Her Plan Needs Inflation | dlacalle.com

UnderpantsWeevil@lemmy.world ⁨1⁩ ⁨month⁩ ago

The reality is that the Kamala Harris plan, like all interventionist governments, creates and strives for inflation. Inflation is a hidden tax. Governments love it and perpetuate it by printing money through deficit spending and imposing regulations that harm trade, competition, and technological creative destruction. Big government is big inflation.

How do you increase National Security Spending, Cut Taxes, and still never miss a payment to all your Social Security voters without creating inflation, Mr. LaCalle?

The dirty secret about inflation hawkery is that we have a cure. Taxation takes money out of the economy and increases the value of remaining dollars. If you really, truly, honestly, sincerely care about inflation, then your only remedy is to raise taxes. Only one candidate running is serious about raising taxes and taking those excess dollars off the table. Only one candidate is coming anywhere close to a balanced budget in 2025.

And it ain’t Trump.

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

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