With interest rate rises, the people in the most debt suffer the most. With tax rises, the highest paid suffer the most, and the govt has extra revenue to help the ones struggling the most. This is never considered by any govt. Why not?
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Tax raises often are considered to slow inflation.
However- tax raises effecting the richest may not be as direct at fighting inflation, and likely will slow the economy in a different way than you think.
The prices of food/groceries have gone way up this year. If you increase taxes on the the rich, do you really think they’re going to buy less food/groceries, or buy less expensive groceries?
The non-rich may respond by going out to restaurants less/eating less expensive food, but you’re less likely to make a dent in the behavior of the rich.
Higher interest rates and tax increases do effect the behavior of the rich, but more with investing than in consumption.
Higher interest rates means leaving money in super low risk bank accounts/bonds (now getting higher interest) can be more attractive than expanding new businesses. Higher taxes for a county can make the rich decide to invest their money in a different country. The effect of this generally is less new business growth, less new jobs, less inflation.
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