what's wrong with that statement ?
yes you need to model the distribution of both
taxes and bond holdings
over households
to get an idea of winners and losers that a certain policy path might generate
for instance:
we can have low inflation with un-pinned lending rates
and thus higher debt service leading to higher taxes
or
we might have lower real returns and lower taxes
thru high inflation with pinned lending rates
usually fellahs out to putting you inside a desirable thought box
leave out some vital capacity of a central bank in a pure credit money system
but another nice trick is to lump us all together and then look at only one set of consequences
or separate out the widows and orphans
or the sharks of lower manhattan
or
ya to get your mind's arms all the way around this stuff requires a model
but of course its models that contain the magic tricks too
