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Or, you could just simply argue that 10% is the group in the best position to beat inflation while the rest of us get poorer. Not taxing the rich, capital gain
by austincheney 5y ago
Or, you could just simply argue that 10% is the group in the best position to beat inflation while the rest of us get poorer.
Not taxing the rich, capital gains as income, seems to contribute to inflation about as equally as government social spending due to both second and third order effects of policy influence and economic consequences.
- padobson 5y agoNot taxing the rich, capital gains as income, seems to contribute to inflation I'd say you're half right, here. The Fed prints money spends $80 billion a month on treasuries and $40 billion a month on mortgage backed securities, so if you're a government contractor or you have a lot of real estate assets, you're effectively robbing everyone else's savings and devaluing their wages.
- imtringued 5y agoIf all you want to do is beat inflation you can just buy stocks instead of saving money. The real problem is that people get higher returns than inflation. Often higher returns than the growth rate of the economy as a whole. The idea that inflation is killing us is simply not true.
- austincheney 5y agoYour argument only makes sense if those stock purchases are treated as regular reoccurring income, such as exchanged from the market to liquid assets, sufficient to cover the increases of daily expenses. For most people that is certainly never the case.