Throughout all this I haven't understood why the only thing central authorities seem able to do is raise interest rates. Why can't the federal or provincial/state government introduce legislation to do exactly what you propose. It's so damn obvious.

It really feels like everyone is observing the ultra rich and profiteering companies make record profits and then turning around and being like 'welp, nothing we could possibly do about that' and then the bank does what it is supposed to do raises interest rates.

I know it's more complicated than I'm aware, for example if you tax the wealthy they might just leave. Well, they would certainly leave because that is what they do.

It's probably a tricky line to pull because you can't just take money from private companies and wealthy families. If we had legislation that allowed that I feel like that would be quite intense or radical, like a course of action not available in the current paradigm. It's probably that our current system is designed to protect wealthy companies and families, maybe that's how they exist in the first place and certainly how they continue to exist and get bigger at our expense.