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Thread: How are you dealing with inflation?

  1. #281
    Senior Member Rogar's Avatar
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    Quote Originally Posted by iris lilies View Post
    When do you draw an income from ?social Sevurity? Our gubmnt with its unlimited resources gives COLA adjustments. We got a hefty one this year, I am thinking 7%.

    Get thee onto the gubmnt teat, my friend!
    Yup. I'm on it already. Not my sole source of income however. If push came to shove I could probably get by on SS alone. I also have a few I-bonds from the days when the fixed rate was 1% plus the inflation component.

    I'm far from being close to financial distress, but it's slightly disturbing to watch the purchasing power of my savings and investments for things like new cars, home remodels and repairs or long term health care diminish.

    I wonder if the government will alter their care free spending habits now that there era of cheap debt is gone. Debt could get rather expensive.

  2. #282
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    Quote Originally Posted by Rogar View Post
    I wonder if the government will alter their care free spending habits now that there era of cheap debt is gone. Debt could get rather expensive.
    There seems to be a substantial faction among our political class that believes the best way to deal with too many dollars chasing too few goods and services is to provide people with more cash to pay the higher resulting prices. They claimed passing BBB would crush inflation.

  3. #283
    Senior Member Rogar's Avatar
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    Quote Originally Posted by LDAHL View Post
    There seems to be a substantial faction among our political class that believes the best way to deal with too many dollars chasing too few goods and services is to provide people with more cash to pay the higher resulting prices. They claimed passing BBB would crush inflation.
    I always had the idea that the BBB plan would go along with increased tax on the wealthy to pay for things and also take money out of the economy at the same time. It doesn't look like either will happen. Matter of fact, tax increases seem like a good way to take money out of the economy, pay down the burgeoning debt, and help inflation all at the same time, regardless.

  4. #284
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    Quote Originally Posted by Rogar View Post
    I always had the idea that the BBB plan would go along with increased tax on the wealthy to pay for things and also take money out of the economy at the same time. It doesn't look like either will happen. Matter of fact, tax increases seem like a good way to take money out of the economy, pay down the burgeoning debt, and help inflation all at the same time, regardless.
    But in the case of taking from the rich and giving to everyone else (less administration costs), assuming the rich are too dumb to take defensive measures, is that you don’t simple exchange spending on Gulfstreams and Chateau Petrus for spending on F-150s and Miller Lite. A big chunk of the one-percenters’ income winds up in their balance sheets in the form of investments which serve to increase the amount of goods and services for our dollars to chase rather than immediate spending.

    While you are certainly right that using tax revenues to reduce debt is possible, that seems to be the part of Keynesianism that we never seem to get around to.

  5. #285
    Yppej
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    Spent $43 on groceries this week. I'll get more produce from my parents this weekend. Used a $10 off a purchase of $10 or more coupon.

  6. #286
    Senior Member Rogar's Avatar
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    Quote Originally Posted by LDAHL View Post
    But in the case of taking from the rich and giving to everyone else (less administration costs), assuming the rich are too dumb to take defensive measures, is that you don’t simple exchange spending on Gulfstreams and Chateau Petrus for spending on F-150s and Miller Lite. A big chunk of the one-percenters’ income winds up in their balance sheets in the form of investments which serve to increase the amount of goods and services for our dollars to chase rather than immediate spending.
    You could be correct. There are some in politics, usually a certain party, that subscribe to supply side economics and trickle down theory, thinking that decreasing taxes is a good way to stimulate the economy. One could then conclude that the opposite would slow the economy. Or another opinion could be that it's all voodoo. Economics isn't exactly a hard science.

    I could argue a case that the previous regimes tax cuts and constant pressure on the Fed to lower rates, along with increasing government spending, overstimulated the economy and are part of how we got here today.

  7. #287
    Senior Member bae's Avatar
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    Remember when the luxury yacht tax didn’t change rich peoples’ behaviour much at all, but destroyed the US boatbuilding industry?

  8. #288
    Senior Member Rogar's Avatar
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    Quote Originally Posted by bae View Post
    Remember when the luxury yacht tax didn’t change rich peoples’ behaviour much at all, but destroyed the US boatbuilding industry?
    I don't remember that. Although if it didn't change people's behaviour I don't understand why it affect the boat industry, but I'll go with it. I suppose it depends on the elasticity of demand for a particular good. Sin taxes on tobacco and booze don't seem to significantly adversely affect their industries, that I know of.

    I could assume that taxing specific goods differs in many ways from taxing income, but that's getting beyond my pay grade. Interesting, but not analogous. Although, the yacht tax did appear to slow the it's niche economy, which could have more global modern applications.

  9. #289
    Member miteigenenhaenden's Avatar
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    In Germany, prices are also rising rapidly.
    I just went shopping. I was struck by lightning with some products. Prices have doubled in just a few weeks. Unbelievable.
    There are new offers here every week, but most of them are just junk. We don't have such an extensive voucher and coupon system.
    Good thing I have a garden and can cook from scratch. So I can save something.
    You have to be willing to do the things others will never do in order to have the things others will never have.
    -unknown-

    www.miteigenenhaenden.de

  10. #290
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    Quote Originally Posted by bae View Post
    Remember when the luxury yacht tax didn’t change rich peoples’ behaviour much at all, but destroyed the US boatbuilding industry?
    There was a place up here that only survived by getting a contract for wooden hull minesweepers.

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