Just when one thinks the deviants at the Fed can’t possibly slip any lower, this.
“This is a perverse incentive that says you shouldn’t try to make yourself better,” said Atlanta Fed President Raphael Bostic, who is leading a virtual conference Thursday intending to focus attention on the problem. “They are not dumb. It’s on us to actually change those incentives so that people understand what the potential is and move forward towards opportunity.”
They literally are dumb, almost as stupid as the idiots at the Fed. This isn’t even an economic or tax policy problem. But, if it is, then what’s the solution? Abolishing taxes? Demographics is destiny, and we’ve fulfilled it to the point of completely collapsing society. Whose benefit is that?