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You're falsely equating inflation with actual wealth tax when they work differently (wealth tax does not apply to every saver, or to every saver equally), and t
by clusterfish 6y ago
You're falsely equating inflation with actual wealth tax when they work differently (wealth tax does not apply to every saver, or to every saver equally), and then just blame wealth tax for the faults of inflation that it does not share. Really.
Since you need it spelled out again: unlike inflation, actual wealth tax will not take $16 from your Joe because in case of actual wealth tax, $800 is three or four orders of magnitude below minimum taxable amount of savings.
- DINKDINK 6y agoInflation taxes the wealth of all savers -- this is unavoidable. Currently many countries have, or are proposing additional wealth taxes that are graduated in amount (What the original article is discussing). >blame wealth tax for the faults of inflation Who made this argument? Not me. You've misrepresented me pointing out that engineering inflation is a tax on all wealth (including average Joe's $800) Best of luck to you in thinking that people writing words in a book in marble buildings can magic more food into existence.