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Inflation is also a mechanism for paying off debt. This is one of the reasons why governments abhor deflation - it makes paying off publicly held debt more diff

• dnautics 6y ago
  Yeah, I should have been more specific. Raising taxes lets you pay off debt, often by hitting the rich harder. Inflation lets you devalue debt, making it easier to pay it off, by hitting the poor harder. In both cases, debt is accrued mostly by paying middle class bureaucrats and already-rich contractors to perform the "functions of government". If you inflate, you are sneakily transferring wealth from the poor to the rich. So, why stop?
• johbjo 6y ago
  Governments have the right to print money.