Viewing a single comment thread. View all comments

PayMetoRedditMmkay t1_j32wsbz wrote

Reply to comment by Iarwain_ben_Adar in US jobless claim applications fall to lowest in 14 weeks by AudibleNod

Just talked to someone who works adjacent to the Fed, and they’ve simply stated that’s not the Fed’s job. That’s congress’s job. Since Congress is a shit show, the fed is doing what it can.

92

Opposite_of_a_Cynic t1_j33it9f wrote

This is accurate. Congress could be raising taxes on the wealthy and corporations to remove money from the national supply. Why not take it from the ones with more than enough to lose?

61

mtarascio t1_j37zbdu wrote

Don't forget they were all gifted a ton of money during COVID.

4

randomguy987654321 t1_j33ykpj wrote

And use that tax money to help me pay for rent and food by doing exactly what.

I'm not saying I disagree. I'm just saying, reddit needs to learn to be at least as competent as Judge Judy and follow the money. How does this help me stop the price of rent hikes or put money in my pocket every month for rent?

−18

Jamber_Jamber t1_j34k9c4 wrote

More taxes add more to the reserves which allows more spending for aid projects.

It COULD theoretically be used for a new first time home buyer program, or housing assistance program.

It's money that goes into the reserves. That you lack imagination on how it can be used is not the fault of the practice.

And these projects again come from those in congress, so people need to vote with conviction.

9

foreverpsycotic t1_j35zjpg wrote

More taxes mean higher rent. Pass the cost onto the consumer.

−3

MrBadBadly t1_j33w4ar wrote

Exactly. The Fed is given a butcher knife to reign in inflation. Congress are the ones who have the scalpels. They have the power to redo the tax code and close tax holes and make wholesale real change to investments and profits and just about anything...

But as you can see, the originators of our fiscal spending and policy makers can't even elect a god damned speaker...

53

No-Reach-9173 t1_j34z2o4 wrote

It should have been clear they are losing their lock step method since trump and Dems should toss some mighty big bones for reps who flop to their side against the crazies and get bipartisanship working again in this country.

5

bhl88 t1_j385ysa wrote

The number of Reps can probably be counted by 2 hands.

2

redditmodsRrussians t1_j332bkv wrote

Class 20 singularity detected.......Warforges spinning up.....Sterilization Fleets spooling up........Contingency Protocol is now in full effect

16

MegamanD t1_j339wvu wrote

Nice Stellaris reference

9

redditmodsRrussians t1_j33ay39 wrote

The Fed is basically behaving like an out of control algo that only knows how to contain a misinterpreted crisis with something drastic and incorrect.

7

Synensys t1_j3472s9 wrote

Exactly. Realistically we need to draw money out of the system.

A corporate windfall tax would do just that.

4