Originally Posted by Gigi3000 (Post 2313593)

I've read that inflation will continue due to the national debt being so high. Not sure what the relation is exactly but worry for my kids.

Originally Posted by Maker (Post 2313375)

If every "rich" person like Musk was taxed at 100%, and all their assets were seized, it would barely make a dent in the national debt. There isn't enough of them to make a difference. It sounds great, but in reality it is a stupid concept to believe in. Politics 101.

"Make the big corporations pay their fair share" really means to raise taxes on all of us. Those taxes will get passed down as higher prices to everyone that buys their products.

Raising taxes has the effect of reducing how much money people have to spend on goods and services. That directly hurts the economy. As businesses sell less, their profits go down. Then, to stay profitable, they raise prices and lay off workers. That's another hit to the economy; less people buying things. And the cycle repeats.

Raising taxes is not the solution. A balanced budget is the first step. Live within your means. Grow the economy and tax revenue will go up. Use that to pay down the national debt. Stop spending double the amount of money coming in.

Originally Posted by Gigi3000 (Post 2313593)

I've read that inflation will continue due to the national debt being so high. Not sure what the relation is exactly but worry for my kids.

Originally Posted by Gigi3000 (Post 2313647)

Letting migrants in would help grow the ecomony as they start businesses.

Originally Posted by jimjamuser (Post 2313269)

National debt numbers are totally meaningless !!!!!!The number appears scary today because interest rates are high. And I could collect all the money in a heartbeat just by making the rich class like Musk and etc pay their fair share. In the 1960 part of the reason there was a solid middle class was that the upper classes paid more taxes. They slowly change it to suit themselves and we were like a frog in hot water, we did not complain because it happened slowly.

Originally Posted by Pugchief (Post 2313657)

You clearly also don't understand this. The problem isn't immigration, it's illegal immigration and welfare handouts to the "migrants". If the gravy train was cut off, there wouldn't be a problem.

Originally Posted by JMintzer (Post 2313688)

Still bangin' that drum, I see...

Fact is, "the rich" actually paid LESS taxes (as a percentage of their income) in 1960 than they do today...

I've given you this FACTUAL information, time and time again, yet you continue to ignore it...

You could tax all of the millionaires and billionaires incomes at 100% and it wouldn't make a dent in the National Debt...

Originally Posted by Pugchief (Post 2313655)

Not sure why you would make this comment without understanding. You should indeed worry for your kids, but inflation is caused by printing money out of thin air. More money supply = inflation.

Originally Posted by Gigi3000 (Post 2314047)

The higher cost of borrowing filters into prices too

Originally Posted by jimbomaybe (Post 2314114)

Cheap money encourages spending = + inflation, expensive $ discourages spending reduces demand less inflationary pressure

Originally Posted by Gigi3000 (Post 2314047)

The higher cost of borrowing filters into prices too

Originally Posted by Pugchief (Post 2314127)

It affects prices, but not inflation. If you pay cash for a house or car, the prevailing interest rates are irrelevant.

Again: Inflation is literally a relative increase in the money supply, AKA federal money printing.

Investopedia

Originally Posted by Caymus (Post 2314123)

That is only f you are spending your own money. "People" that spend other's money don't care.

Originally Posted by Stu from NYC (Post 2314142)

If a companies borrowing costs go up they will do their best to increase prices for their product. That is inflation

Originally Posted by Stu from NYC (Post 2314142)

If a companies borrowing costs go up they will do their best to increase prices for their product. That is inflation