Quote:
Originally Posted by Bill Bumface
Remember that whole Modern Monetary thing that says when this happens after you've been printing money like crazy, to raise taxes?
It's a seriously easy and effective lever to take money out of the economy. Such a shame they're too afraid to touch it.
Raise taxes, promise to throw it in the Heritage Fund or something (ha!). Done.
|
I don't think raising taxes to the point of a surplus would be necessary - if they raised them to cover existing spending that would probably be enough to put the breaks on inflation. If you wanted to go crazy you could pay off some of the debt incurred during the pandemic, but I doubt that would be necessary to cool things off.
The bank of Canada has their foot on the brakes- if the government let off the gas a bit things would start to slow down.