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Nobodyknowsnothing's avatar

most of these proposals would do very little for inflation in the short run and perhaps not even in the long run. so we are back to monetary policy as a blunt instrument.

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Mladen's avatar

1. Except for the price floor, you haven't mentioned the policies that would increase the domestic oil supply. Also, no mention of the policies that reduced the oil supply and caused the price hike before the war. There is a conflicting political goal of wanting less fossil energy. There were other conflicting political goals as well. Something has to give, and it did.

2. What makes you think that increasing taxes on oil profits wouldn't simply mean further price hikes to compensate for the extra tax cost?

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