alt Hacker NewsIt would cause inflation, isn’t that sort of a tax on people who have more wealth than income? (Which includes people like retirees, so, I’m not saying this is a universally good thing).
Replies
ziml77 • last Thursday at 1:47 PM
Theoretically yes, but in practice the wages of people already not making much have not tracked inflation and there's no reason to believe that they will now. That means any inflation is also a tax on them.
hammock • last Thursday at 1:55 PM
Isn’t it the opposite? Salaries are sticky while asset prices rise freely with the liquidity of the market for them
bad_haircut72 • last Thursday at 1:38 PM
No because assets hold their worth. Poor people have no assets
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> isn’t that sort of a tax on people who have more wealth
Classically, yes, particularly when that wealth is closer to productive capital. In modern economies, the rich also hold a lot of debt, which lets them benefit from inflation.