Things we need to do to halt inflation
To the editor:
Re: “Wonking Out: Going Beyond the Inflation Headlines,” by Paul Krugman (column that appeared in The New York Times on Nov. 19):
Yes, today’s inflation is a consequence of the pandemic: The stimulus from rescue funding and the pent-up demand which will wear-off within the year, as supply rebounds.
Congress should move immediately to curb the inequality that is replacing the republic with fascism, by hugely taxing obscene hoards of wealth; the Fed should move to curb the flight of capital from the markets that would result in recession by changing the discount rate to minus 0.3% (pick your number).
Other benefits would include:
Income to Treasury: The Fed’s properly charging wealth a fee to safely park their funds will mean increased savings and thus opportunity for the people.
What else could be done to preserve our capitalism? More regulation!
That’s how this artist, retired engineer, would solve the angst plaguing the United States.