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You can thank inflation, the government's biggest hidden tax. And of course, it hurts the poor the most, those without the financial know-how to invest, buy CD
by mises 7y ago
You can thank inflation, the government's biggest hidden tax. And of course, it hurts the poor the most, those without the financial know-how to invest, buy CDs, T-Bills, etc. Yet there are still no moves to stop inflation. Why? Because it's good for business. Cheaper money.
- bobthepanda 7y agoDeflation also hurts the poor, because the remaining debt balance they have stays the same while the price they are paid for the fruits of their labor decreases, and it also encourages those with money to sit on it instead of spending or investing. The populist policy in 19th century America was to ditch gold for a more inflationary silver standard.
- mises 7y agoNot all poor are in debt. You are correct that deflation can hurt top; let's judt go back to the gold standard.