this post was submitted on 22 Dec 2024
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The incoming administration of Prime Minister Kristrún Frostadóttir, which takes over on Sunday, also said it will set up a panel of experts to look into the advantages and disadvantages of retaining the Icelandic crown over adopting the Euro.

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[–] john89@lemmy.ca 2 points 5 hours ago (1 children)

Awful take.

Instead of printing money, they should be raising taxes on their wealthiest.

[–] queermunist@lemmy.ml 1 points 53 minutes ago* (last edited 53 minutes ago) (1 children)

Printing money does raise taxes on the wealthy. Inflation is a tax on every person with currency. If you print money and give it to the poor to make up for the real value they're losing to inflation, the tax falls on the wealthy.

[–] john89@lemmy.ca 1 points 12 minutes ago

Err... the thing about printing money and giving it to the poor is that the wealthy people who own the companies will raise prices to overcompensate for the increase in currency available.

I keep saying: inflation is how the ruling class recoups any gains the working class has made, with interest.