tag:blogger.com,1999:blog-4900303239154048192.post5312989084556000401..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Larry Summers Doubles Down On His Inflation PredictionUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4900303239154048192.post-12373005833675414212021-05-27T20:37:05.450-04:002021-05-27T20:37:05.450-04:002slugbaits,
I believe that he has elsewhere expre...2slugbaits,<br /><br />I believe that he has elsewhere expressed support for higher taxes on higher income people, and indeed when he was advising Obama they did raise the tax rate on top incomes a bit. However, he has not been saying much about it in his recent discussions of inflation and did not do so in this column, although he did throw in opposition to states using federal assistance to cut taxes.rosserjb@jmu.eduhttps://www.blogger.com/profile/09300046915843554101noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-12665365840130397462021-05-27T19:15:54.715-04:002021-05-27T19:15:54.715-04:00If Summers is concerned that too much government s...If Summers is concerned that too much government spending will lead to inflation, then why doesn't he also argue for higher taxes on the rich as a way to dampen aggregate demand? Why is it that the only two options that can ever be considered by policymakers is either higher interest rates or cuts to programs that help the bottom quintiles?2slugbaitshttps://www.blogger.com/profile/14763897441056512506noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-75588381282530602712021-05-27T11:58:56.598-04:002021-05-27T11:58:56.598-04:00Exactly! As soon as economic circumstances benefit...Exactly! As soon as economic circumstances benefit workers, they need to be chopped down at the knees, according to Summers.Jacques Engelsteinhttps://www.blogger.com/profile/08145451392439998102noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-74721129907899845692021-05-27T11:50:40.765-04:002021-05-27T11:50:40.765-04:00Geez. The slightest inkling that maybe a worker so...Geez. The slightest inkling that maybe a worker somewhere has a little teensy bit of bargaining power and suddenly the whole world is falling apart. Funny that falling labor costs are just "Mr. Market doing his magic" but as soon as something happens that might cause a rise in costs everyone panics. I guess it is "market equilibrium for thee but not for me". GeorgeNYChttps://www.blogger.com/profile/00343662712412312274noreply@blogger.com