Okay, so first of all, they currently have the power to raise and lower interest rates without the people’s approval. This isn’t some undemocratic seizure of power.
Secondly, I don’t think they should have carte blanche to raise and lower every tax. It could be within some range of the federally set tax rate, e.g 2.5 points above or below.
It’s merely an idea, as people often complain about the BoC only having “one lever”.
Because people don’t want higher taxes. Raising taxes is always politically unpopular even if for a valid reason. Politicians often do the opposite, e.g Trudeaus grocery rebate just puts more money into circulation and contributes to inflation. The BoC can operate autonomously from the federal government and could conceivably raise taxes when a politician would not have the political capital to do so.
why not just raise taxes, then?
Because it’s politically unpopular despite being good fiscal policy. Give some control to the central bank, who aren’t beholden to angry voters.
I agree that it’s unfortunate the central bank can only change interest rates. At the same time, fiscal policy often runs in the opposite direction. I wouldn’t be opposed to giving BoC some control over taxation, within a limited margin. It would give them one more tool so to speak.
High inflation is far worse for most workers than higher interest rates.
I’m liking it a lot but I really hope the dev adds 6 and 12 hour sort.
So cute, what are their names??
seconding this, Jimmy's is great
Had a big day of travel so I read through all of Project Hail Mary by Andy Weir. Some of the humor didn't really land but overall it was great. Such a cool take on a first contact situation where the human and alien have no choice but to work together to save both their planets.
Sadly it doesn't matter if we have antitrust laws or not when no one is willing to enforce them.
1984 of course, that last sentence is iconic even with the name replaced
Honestly tragic I can’t drink a beer while I have a picnic :(