Summers on Tax Hikes
Larry Summers has been right on inflation for the past year, but what about his recent comments on tax hikes? Here’s what he told reporters last week:
“I sure wish we could get past this basically ludicrous economic idea that tax increases are inflationary — it’s just not right,” and “The right thing to do is to raise taxes right now to take some of the demand out of the economy.”
S-Corp has argued that tax hikes can be inflationary, and that the House-passed hikes are inflationary, so this argument caught our eye. Did we miss something in the economics? Is …
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