Money printing is in effect a regressive tax. Inflation is effectively a flat tax, it wipes out X% of people's savings regardless of whether they are in the bot

Money printing is in effect a regressive tax. Inflation is effectively a flat tax, it wipes out X% of people's savings regardless of whether they are in the bottom 10% of the income distribution or to 10%. In fact, it might even behave like an inverse tax, since the wealthy will be the first to move their savings out of dollars while most everyday people will be stuck with their savings becoming worthless. > There are a lot of ex-Soviets running around everywhere. Find one and talk to them. I have spoken to many people who used to be in state run economies (USSR, Cuba). Effectively all of them are skeptical of schemes like MMT that function to give the government more power without public knowledge or consent.