If shit was āfairā, if the determining factors in financial success were simply hard work and ambition and intelligence, there would be no correlation between a personās wealth as an adult and how much wealth their parents had when they were born. People who advocate low taxes and few govt benefits think the playing field is level; thatās ridiculous.
Our society is grossly inefficient with its human resources. The potential weāve wasted as a result of unchecked greed and fear is disgusting.
Theres a reason every major sports league has some form of a salary cap. Itās because access to capital is a compounding advantage that cannot be made up in any other way. Without severely restricting the wealthiest from running away from the pack, thereās no competition, just preordained winners and losers.
As it relates to tax policy, Iād be fine with a flat tax with no deductions of any kind, provided there was a massive tax on large estates (something like 90% on everything over $10,000,000). As it stands we have a progressive tax structure the allows wealthy people to end up paying a lower effective tax rate than poor people. Thatās insane.
I think the amount we spend on education and healthcare is stupidly low. I believe it would be pretty easy to balance our budget and fund the things I value without hurting the economy if we were able to keep politicians from being for sale, although I donāt know how that can change.
As it relates to the topic of this thread, I donāt think the majority of the inflation we have seen over the last 2-3 years can be attributed to government spending. The last stimulus package that was passed in 2021 was unnecessary but the inflation weāve seen has been more a result of supply shocks resulting from geopolitical instability and the pandemic than simply oversupply of dollars and too much govt spending.