this post was submitted on 19 Sep 2023
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Oh good, this must mean that they'll solve the problem of me not having money by raising the cost of my home and debt incurred from not having enough money.
Please find another way other than raising interest rates again.
The other classic way to reduce inflation is simply taxing the rich. It’s especially efficient to tax the wealthiest when inequality is high, as it is now. This is macroeconomics 101. Meanwhile, very dubious fringe conservative theories get mentioned instead, like intentionally causing unemployment. All the “solutions” put the burden on the poor.
The fact that taxing the rich never comes up in mainstream discussion as a possibility shows how captured our media and politicians are.
It would remove money from the overall money supply making each dollar worth more per unit.
Money is subject to supply and demand, if demand is high and supply is low, the market value of each dollar goes up; If demand is high, people are willing to pay more.
Right now the supply of all CAD in our economy is higher than demand and so the dollar's value is lowered.
We can't fully control demand, but we can affect supply.