NYT Krugman: It's morning in America

[nuxvomica]

1. If the economy overheats, is repealing the tax cut a remedy?

I don't know much about economics so I'm not sure but I would think that barring another pandemic wave, this short-term inflationary pressure could get out of hand and I wonder of repealing the tax cut would be a good remedy in that case or not. I'm thinking that if it is, and the repeal is done, probably through reconciliation, we could see a major positive shift in income inequality during Biden's term. I consider income inequality to be at the root of a lot of the country's problems.