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the poor have debt, inflation is good for them. (in fact the federal reserve target rate of inflation is good for everyone in a utilitarian sense (whereas defla
by zzzzzzzza 6y ago
the poor have debt, inflation is good for them. (in fact the federal reserve target rate of inflation is good for everyone in a utilitarian sense (whereas deflation is horrible))
- silentsea90 6y agoInflation is good for the poor is a lie. The poor can no longer afford a house, can't pay for college, can't pay for healthcare because inflation has taken this away from them. Inflation is good for the rich. I would much rather be rich and hold assets that go up with inflation, and invest on leverage because inflation makes it easy to pay back my loan. The rich hold most of their wealth in assets, the poor hardly have any assets that go up with inflation and are left behind with whatever cash they have which loses value continuously. Taxation is a method that can theoretically target the rich more than the poor. Inflation steals from everybody equally in theory, but from the poor more than the rich in practice.