Inflation influencers (1 Viewer)

[Lapaz]

I constantly hear about how the party in power in congress is blamed for inflation, but they have very little influence. The Federal Reserve has by far the biggest influence within the government. Most other factors are global. Tax cuts and less spending can help, but the Fed and global supply chains far outweigh those.

To what extent can the US president control inflation? - Economics Help

The best guide to US elections is the state of the economy. If the economy is doing badly with high unemployment and/or higher inflation. The party of the sitting US president tends to get punished by the voters. But, how much influence does the President have on the economy and…

www.economicshelp.org

If the economy were actually poor, even the Fed would be hamstrung. It’s frustrating that so many people are going to vote based on inflation, because their representative will not be able to affect inflation.

 

[Taurus]

They are busy with tax reforms. Replace the income tax with a sales tax??? They must really love the wealthy and hate the middle class and poor.

Yes, yes they do.

 

[UriUT]

Yes, yes they do.

There is currently $800 billion of uncollected taxes that Treasury are unable to collect from the top 1% due to lack of manpower and tools. Under the existing tax codes! Instead house repubs are trying to dismantle the irs further. They dont care to govern. Trump ballooned the debt...and a good chunk of it was pre-pandemic. But both sides right?

And remember their last debt ceiling stunt cost the us 18 billion dollars on interest alone.

 

[cuddlemonkey]

There is currently $800 billion of uncollected taxes that Treasury are unable to collect from the top 1% due to lack of manpower and tools. Under the existing tax codes! Instead house repubs are trying to dismantle the irs further. They dont care to govern. Trump ballooned the debt...and a good chunk of it was pre-pandemic. But both sides right?

And remember their last debt ceiling stunt cost the us 18 billion dollars on interest alone.

And a downgrade of our credit rating.