The headline says it wasn’t just the Fed and stimulus. But then the chart shows that in fact large swaths of it were PPP loans, unemployment benefits and stimulus payments. All in a year where apparently (PPP excepted) total pay for employees almost didn’t go down at all.
What this all suggests to me is that to pay for this we should have taxed high earners and not used debt. I say this because I fear inflating markets (stocks, housing, whatever) will actually wind up harming the middle class if/when the bubble bursts. Better just not to have the bubble in the first place, by taxing the money away on the front end.
What this all suggests to me is that to pay for this we should have taxed high earners and not used debt. I say this because I fear inflating markets (stocks, housing, whatever) will actually wind up harming the middle class if/when the bubble bursts. Better just not to have the bubble in the first place, by taxing the money away on the front end.