WASHINGTON (Reuters) -The International Monetary Fund on Thursday said the U.S. Federal Reserve should not cut interest rates until "late 2024" and the government needs to raise taxes to slow the growing federal debt - including on households earning less than President Joe Biden's $400,000-a-year threshold. The prescriptions came in the detailed staff report from the IMF's annual "Article IV" review of U.S. economic policies released on Thursday. The Fund has been emphasizing in recent weeks the need for more fiscal prudence as U.S. deficits continue to grow despite robust economic growth and as Republicans and Democrats formulate tax and spending proposals ahead of November's presidential election.
Economics is not my strong suit but, aren’t exactly these kind of things imf’s whole ‘damn business’?
Eh. I’m pretty sure what they’re really saying is ‘don’t tax the rich’… but I could be wrong.
Friendly reminder, it was republicans who ballooned our national debt by, uh, not taxing the rich.
I wasn’t saying if what they said is right or wrong, or making any interpretation, just saying it’s their work to put out these reports. The article only mentions ‘rising’ taxes, tho.
Agree with the second, only thing to add is that if anyone was expecting that politicians i.e. rich, privileged, and powerful people would do anything but favor the rich, privileged, and powerful people they’re an idiot.
Didn’t be an apologist dude, and eat the rich.
I only said that these reports is the only thing the imf does, like its only reason to exist, so it is literally its business. But also, and again economics is not my forte so feel free to correct me if I’m wrong, lower rates than inflation only means free money for the rich. And if I understand correctly is Biden the one wanting to lower taxes to the rich ($400k/year is NOT working class).
Edit:
Unironically/literally this. Watching the recording of a fellow billionaire being roasted and devoured by a mob of poor folk would put a bit of fear in them.