Economics Nobel Laureates' Letter Supporting the California Billionaire Tax [pdf]
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Economics Nobel Laureates' Letter Supporting the California Billionaire Tax [pdf]
Unofficial Hacker News client; not affiliated with Y Combinator.
jmclnx · · focus · HN ↗
What is hardly mentioned about inflation is the tax cuts for the rich. That increases money supply and forces the Fed to borrow more, or find other ways of raising funds to pay for the government.
So yes, either fix the tax code or enable this wealth tax nation wide, no other choice. One reason people like the 50s was everyone was taxed and most wealth was not in the hands of the few.