Hello, Welcome to Known Unknowns, a newsletter that apparently still believes in the Philips Curve[*]. Paying for all of this debt We’re currently running up the biggest debts in American history, and the Fed can’t monetize debt forever. The big debts are necessary right now, but we eventually have to ask who will pay for it. Biden says it won't be people who make less than $400,000, but that is not realistic. But that won’t stop people from trying to put all of the higher bill on the rich. So, I anticipate that the wealth tax, a tax on fortunes that are more than millions of dollars, will soon come back into the conversation.
Known Unknowns
Known Unknowns
Known Unknowns
Hello, Welcome to Known Unknowns, a newsletter that apparently still believes in the Philips Curve[*]. Paying for all of this debt We’re currently running up the biggest debts in American history, and the Fed can’t monetize debt forever. The big debts are necessary right now, but we eventually have to ask who will pay for it. Biden says it won't be people who make less than $400,000, but that is not realistic. But that won’t stop people from trying to put all of the higher bill on the rich. So, I anticipate that the wealth tax, a tax on fortunes that are more than millions of dollars, will soon come back into the conversation.