I don’t know tbh. I think a combination of factors—most of which boil down to intermittent disruptions to supply chains and unusual changes in demand—threw the economy out of whack and created a situation where supply cannot keep up with demand. I think the high cost of oil is one of those factors and a main driver of inflation.
There’s a controversial theory called “wage push inflation” which says that increasing wages lead to inflation when businesses raise prices to keep up with their growing cost of production, of which cost of labor is the largest share. Some people suggest that wage increases are contributing to inflation because unemployment has sustained at bottomed out levels for a long time now, and businesses offer higher wages to workers who are short in supply.
It’s for individual tax payers. Apparently rich people have a lot of unpaid taxesIt's aimed at the companies though, not the rich consumers, so how does this effect inflation? How does a company drive inflation?