“I want a white-hot economy that will raise wages at the bottom“
Problem is, tax brackets won’t keep up - putting bottom wages into higher tax rates, while inflation ensures bigger numbers don’t mean greater wealth. It’s a way to tax the poor more via plausible deniability.
Thank Reagan for at least getting nominal inflation indexing for the income tax brackets.
Before 1981, the feds had that incentive to inflate to get more tax money.