What's the best way to fight inflation?

[user 135067]

I like the idea of closing the IRS. Talk about a waste of resources. It's the most bloated department in government. If the only tax was on sales of goods then there would be no tax breaks or cheating the IRS. The tax department wouldn't need to be an investigative entity. Just bookkeeping. Easy to downsize.

The country would be funded by those that buy. Billionaires couldn't duck taxes by investing their money and then borrowing it from themselves. The rich buy higher ticket items and thus would pay higher sales taxes. They'd pay their share. No cheating.

The poor could cope better by not buying frivolously. The economy would recover because the civil body could spend the money that the IRS isn't taking... which in turn would provide more tax revenue.

The reason this isn't happening is because the rich would lose their tax breaks, so they back the politicians that will work for them and will keep the working class bearing the brunt of taxation. Take a look at who gets the tax breaks. Who gets to deduct 100% of the cost of a new jet. Why can't I deduct the cost of my car? Or my house? Or the food we have to buy? It seems as fair as free jets for businesses.

There is trickle down to the working class, but it's their urine as they laugh their way to their banks.

 

[Finished]

I like the idea of closing the IRS. Talk about a waste of resources. It's the most bloated department in government. If the only tax was on sales of goods then there would be no tax breaks or cheating the IRS. The tax department wouldn't need to be an investigative entity. Just bookkeeping. Easy to downsize.

The country would be funded by those that buy. Billionaires couldn't duck taxes by investing their money and then borrowing it from themselves. The rich buy higher ticket items and thus would pay higher sales taxes. They'd pay their share. No cheating.

The poor could cope better by not buying frivolously. The economy would recover because the civil body could spend the money that the IRS isn't taking... which in turn would provide more tax revenue.

The reason this isn't happening is because the rich would lose their tax breaks, so they back the politicians that will work for them and will keep the working class bearing the brunt of taxation. Take a look at who gets the tax breaks. Who gets to deduct 100% of the cost of a new jet. Why can't I deduct the cost of my car? Or my house? Or the food we have to buy? It seems as fair as free jets for businesses.

There is trickle down to the working class, but it's their urine as they laugh their way to their banks.

I agree. The IRS is just a bloated mess. The tax system should be simple.

IMO, it should be a straight certain percentage of your income. There should be no tax breaks, deductions, or any of that other crap. The IRS has most of everybody's earnings already in their system. They already automatically do a caculated tax return in order to compare what's submitted. For most, the employer should deduct whatever percentage and pay that directly to the IRS. Then the employee wouldn't have to do anything.

 

[Galen]

If it's any consolation, the tax system over here in the UK is just as ******. To navigate your way through the most simplest things can end up leaving you with a brain hemorrhage. As for those working within those tax offices, from personal experiences they havn't got a clue as to what the hell's going on either.
As for tax breaks, tax deductions etc - hell yeah I'm all for that if it means there's less I have to pay to the HM Treasury for them to piss up the wall. But the system can be so convoluted, it can be a minefield trying to determine what breaks you are eligible for.
Surprise surprise, as with many other countries those that can take the greatest advantage of tax breaks would be the incredibly wealthy. And one of the reasons why? When latest tax rules were written up around 10-15 yrs ago, the Treasury used people from the major international accountacy firms to help them create these new rules and regulations. Inevitable "back doors" or loopholes were created in order for them to legally exploit on behalf of their high end wealthy clients.

So how to beat inflation? Become filthy rich. How to become filthy rich? Still working on it. But once I've got it figured out, I'll sell you guys the plan....

 

[user 135067]

I just saw a report that, while we are in a desperate fight against inflation, corporations are experiencing record high profits of an extremely incredible increase.

You will note profits up to the year 2000 that had modest regular increases. Companies had profits enough for sustainability or they would no longer be here.

By 2005, a mere 5 years, profit increases had surpassed history by more than double.

Note the recession of 2008 and it's proximity to the sharp profit increases of the previous eight years. Ask yourself what caused that recession. Note also that even at the recession's worst that profits were still well above those of only a few years prior.

Note that within a year of the recession that profits were up even higher than the remarkable increases of 2005.

Profits increased over the next decade more than modestly.

Note the drop in 2019 with the onset of Covid.

Now pay attention to the more than remarkable recovery over the next two years.

During Covid, during unprecedented inflation, during the greatest price hikes in history, profits were at their sharpest increases of all time.

This is obvious gouging. Corporations used the cover of the pandemic to take advantage of consumers.

Do not make the mistake of blaming the current inflation on politics. It is pure and simple corporate greed.

The highest profit gains are with petroleum and food. These are the things we cannot do without. There is more than modest profits without gouging. And yet profits are soaring during a time when the country is struggling.

These are the industries most capable of driving inflation. It is these two industries that dictate what all other corporations do.

Now take a look at profits to wages.

The gap between corporate profits and what they pay their employees has never been greater.

The economy needs money that moves to be healthy. But that money is stagnating in corporate and wealthy bank accounts.

What is worse is since wage percentages are at an all time low the working populous has to borrow. Interest fees take even more from them and give even more to the wealthy, whose accounts are the benefactors of interest fees.

It is the wealthy elite that are driving inflation... because they have more than they need, so who the **** cares about the rest of us.

You should be really really angry at those that are making it harder to make ends meet. I will add that this is not out of need, but out of greed.

 

[Finished]

I just saw a report that, while we are in a desperate fight against inflation, corporations are experiencing record high profits of an extremely incredible increase.

You will note profits up to the year 2000 that had modest regular increases. Companies had profits enough for sustainability or they would no longer be here.

By 2005, a mere 5 years, profit increases had surpassed history by more than double.

Note the recession of 2008 and it's proximity to the sharp profit increases of the previous eight years. Ask yourself what caused that recession. Note also that even at the recession's worst that profits were still well above those of only a few years prior.

Note that within a year of the recession that profits were up even higher than the remarkable increases of 2005.

Profits increased over the next decade more than modestly.

Note the drop in 2019 with the onset of Covid.

Now pay attention to the more than remarkable recovery over the next two years.

During Covid, during unprecedented inflation, during the greatest price hikes in history, profits were at their sharpest increases of all time.

This is obvious gouging. Corporations used the cover of the pandemic to take advantage of consumers.

Do not make the mistake of blaming the current inflation on politics. It is pure and simple corporate greed.

The highest profit gains are with petroleum and food. These are the things we cannot do without. There is more than modest profits without gouging. And yet profits are soaring during a time when the country is struggling.

These are the industries most capable of driving inflation. It is these two industries that dictate what all other corporations do.

Now take a look at profits to wages.

The gap between corporate profits and what they pay their employees has never been greater.

The economy needs money that moves to be healthy. But that money is stagnating in corporate and wealthy bank accounts.

What is worse is since wage percentages are at an all time low the working populous has to borrow. Interest fees take even more from them and give even more to the wealthy, whose accounts are the benefactors of interest fees.

It is the wealthy elite that are driving inflation... because they have more than they need, so who the **** cares about the rest of us.

You should be really really angry at those that are making it harder to make ends meet. I will add that this is not out of need, but out of greed.

Well everybody knows when prices go up they rarely come back down like they were before even if production costs come down. Just another side of effect of shutting down the world's economies for Covid and then flooding the world with cash before production get started back to normal.

The latest thing is the US government spending $billion to reimburse people for their high costs of utilities. Um, no, do something about the high costs of utilities. The government might as well just give the billions directly to the utility company's executive officers because that's where the money is going to end up.

Also the idea behind allowing recording high profits is to boost the fraud market (stock market). They have to keep people believing money actually has value. If the majority of people with 401K plans loose all their funds they just might say F it. And, we have to keep all the slaves working.

 

[Butterfly 2]

Did anyone live through the 80's?

Yes. I know exactly which inflation era you're talking about. I also remember that we could only afford to own one car and we needed two so we had to finance a second car and we paid 19% interest.

We don't seem to learn from history and realize that if there is inflation or gas prices are extremely high or crime rates go up, it runs in cycles and it isn't the first time it's happened. It feels that way to us because we are living through it, but it's nothing uncommon.

I'm not sure what is allowed for links so just in summary, the social security increase is 8.7% this year which tells me inflation averaged around that even though it isn't listed yet.

In 1979 it was 11.3% in 1980 it was 13.5% in 1981 it was 10.3%

In 1974 it was 11%

In 1946 it was 8.3% and in 1947 it was 14.4% and in 1948 it was 8.1%.

In 1942 it was 10.9%.

In 1917 it was 17.4% and in 1918 it was 18%. In 1919 it was 14.6% and in 1920 it was 15.6% and then I guess we all know what happened after that.

 

[Finished]

So, last week I was going to buy some eggs. But, they went from $1.50/dozen to about $7/dozen. I remembered I have many number 10 cans of freeze dried food in case of an emergency. So, I pulled out one of my eggs and bacon cans. They are all about 10 years old so I wanted to try one anyway. I remember paying between $18 - $22 per can. I looked up the current price for the non-egg ones and they range from $50 - $70 per can. Wow! I guess I better not waste any more of them because I will not replace them at those prices.

 

[Unsigned]

"What's the best way to fight inflation?"


- Diet & exercise...

 

[Black Rose]

So, last week I was going to buy some eggs. But, they went from $1.50/dozen to about $7/dozen. I remembered I have many number 10 cans of freeze dried food in case of an emergency. So, I pulled out one of my eggs and bacon cans. They are all about 10 years old so I wanted to try one anyway. I remember paying between $18 - $22 per can. I looked up the current price for the non-egg ones and they range from $50 - $70 per can. Wow! I guess I better not waste any more of them because I will not replace them at those prices.

It might be worth looking into egg substitutes for baking. Eggs have gone up tremendously.

I heard when the government calculates inflation they leave out core costs like food and energy. I don't really understand the formula they use, but it doesn't seem fair to leave out those costs. I bought a few cans of eggs for $35. They are now nearly $100. I like dehydrating foods. It's less expensive than buying freeze-dried. I really want a freeze dryer! They are so expensive though.

 

[TheSkaFish]

So, last week I was going to buy some eggs. But, they went from $1.50/dozen to about $7/dozen. I remembered I have many number 10 cans of freeze dried food in case of an emergency. So, I pulled out one of my eggs and bacon cans. They are all about 10 years old so I wanted to try one anyway. I remember paying between $18 - $22 per can. I looked up the current price for the non-egg ones and they range from $50 - $70 per can. Wow! I guess I better not waste any more of them because I will not replace them at those prices.

The price of eggs has been literally killing me. They were my main source of protein for a while, until last year.
It's f*cking ridiculous.

 

[Black Rose]

The best way to fight inflation for me is living simply, not buying anything that isn't necessary, looking for ways to save money like doing away with paper towels and using washable towels for cleaning. I think of everything I buy as an investment. The longer it can last and serve me, the more apt I am to buy it.

Buy a little silver, get a little gold. That's God's money and has been used since ancient times. When the paper stuff loses value, gold and silver go up. It's a good deal right now. China, Russia and the Central Banks are buying gold. If I had a little more money, I would invest in commodities, especially certain mining companies.

Reuse, recycle, and fix what is broken. Buy used when I can. Pay off debt. My goal is to get a piece of property and start a small homestead. The more independent you are from the system, the better off you are.

 

[Adamridge79]

Fire. Kill it with fire.

 

[user 139760]

Fire. Kill it with fire.

This. Definitely the way to go.
If it bleeds, we can kill it.
At 75% off.

 

[Finished]

I like dehydrating foods. It's less expensive than buying freeze-dried. I really want a freeze dryer! They are so expensive though.

One thing I haven't done but would like to try some time is to dehydrate an animal using smoke and the sun in the forest. I've seen a couple people do that before. It is a lot of work. You are constantly cutting thin strips of meat and hanging them on lines in between trees. And, you really have to be careful not to pull in big predators like bears due to the smell. Have you ever done anything like that?

Yeah, I really would like to have a freeze dryer too. But they cost about $4,000 for a small one. I have started thinking about making one. But, I don't want to do the dry ice type. I want to do a real freeze dryer all self contained. But, it's way down on list of things to do.

 

[Finished]

The price of eggs has been literally killing me. They were my main source of protein for a while, until last year.
It's f*cking ridiculous.

Yeah, eggs were a part of my diet too.

 

[Finished]

Well, there was the Boston tea party back in 1773. Maybe we should get all the eggs and throw them at the white house in rebellion to inflation stoked by the politicians out of control wasteful spending. Ha! ha!

BTW, there's the BS inflation numbers the government calculates for inflation. The old BS inflation numbers the government used to use. And, then there's the real inflation numbers that average everyday people are faced with. Many items have doubled and tripled. Also the government is looking into changing how inflation is calculate again because it's going to be sticking with us for a long time.

 

[Black Rose]

One thing I haven't done but would like to try some time is to dehydrate an animal using smoke and the sun in the forest. I've seen a couple people do that before. It is a lot of work. You are constantly cutting thin strips of meat and hanging them on lines in between trees. And, you really have to be careful not to pull in big predators like bears due to the smell. Have you ever done anything like that?

Yeah, I really would like to have a freeze dryer too. But they cost about $4,000 for a small one. I have started thinking about making one. But, I don't want to do the dry ice type. I want to do a real freeze dryer all self contained. But, it's way down on list of things to do.

I haven't smoked meat before, but if I did, I'd definitely smoke trout. It's so yummy, especially with a light horseradish sauce. I'm really hoping for a place in the next few years. I want to build a small smoke house. I grew up poor in the South and got to experience having animals, a garden, a well for water and wood stoves. I love simple country life.
You sound like someone who might enjoy bushcraft. You are the first person I have ever heard of thinking about making a freeze dryer! You must have some mad skills. I'll share my list if you share yours..lol

 

[user 139760]

Well, I buy some ointment at the local drugstore. Every night you spread it equally, then you go to bed. In the morning...
...oh, INFLATION...

 

[Techno]

Have the government spend even more money and tax businesses! Brilliant!!!!!

That way more stuff will be purchased, which will shrink supplies in various areas. Then the businesses paying higher taxes will just pass on the costs to the consumers, which means price increases. Perfect!!!!! That will surely reduce inflation. Brilliant!

Or, the large businesses will just explode their corporations into a bunch of smaller ones and just miss the need for the 15% minimum tax.

Oh, but Medicare will be able to negotiate drug costs. So, drugs will probably see a slight decrease overall, thereby justifying the massive spending.

People will get rebates for buying electric vehicles both new and used. Gee, what do we think that'll do to the prices of those vehicles. I'll give you a small hint:

Also the first thing I thought about was, a person will "sell" their electric vehicle to their friend and then they split the rebate money. The sell will be bogus. There is going to be a honeysuckle ton of that going on with no oversight once again. Then they'll say we never thought that would happen. Sure.

The best part of the entire thing is it called the, Inflation Reduction Act!!!!!

There can't be a bigger F U to the American tax payers. ha! ha!

Bitcoin is the only store of value. The government will not do anything that displeases their corporate masters. It’s an election year so we will get lip service from the government, but no action. We must stop believing in the two party system of government that serves to divide us. Let’s come together as citizens of this great nation and stop allowing race, gender, sexual orientation and religion to divide us.

 

[Unsigned]

Honestly, one of the best ways is to reject consumerism.
I have a 2006 Camry (that I bought in Sept 05).
I have a Samsung Galaxy J3 that I bought in Feb 18.
I bought my PC in 2011 and it runs Windows 7.
I only buy new shoes/sneakers when the old ones wear out.
I can't even remember when I bought my TV (26").

Just say no to consumerism.
If what you have still works, it is still good and you should stick with it.

EDIT:
And most importantly, I could retire tomorrow if I really wanted.
But I will most likely wait until January 2028 because while my job is stressful, it's not so stressful that I would quit prior to collecting the SS I paid into my entire teen/adult life.