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Clearly 65% of Americans don't realize money printing is a hidden tax that erodes their savings.

by lrvick 5y ago

tibbydudeza 5y ago
Deficits does not matter.
thghtihadanacct 5y ago
Doesnt have to be that way ... lots of spare cash going to defense dept. Why do we always have to find ways to pay for social well being but always got the cash for over priced guns?
- felistoria 5y ago
  Defense money is budgeted year over year. You could give this stimulus payments to people for two maybe three months and would have spent the defense budget for a year, so now where is the money going to come from?
  - thghtihadanacct 5y ago
    $300 billion does add up fast. Pull everything out of BTC before China reveals tether is a scam?
  - skinnymuch 5y ago
    This same logic could be applied before the defense budget became what it is. As in where would the hundreds of billions for defense come from? Same with the overspending on health care. Yet the country manages and has managed a ballooning budget and deficit so far. The tie to the status quo being some semblance of good or positive never makes sense to me. The status quo wasn’t always the status quo. It only is now. The country likely won’t teeter on hyper inflation if an extra trillion or so is added to the budget. Especially when a proposal like this would involve a lot of the money going back into the economy.
paulpauper 5y ago
not necessarily. it would only be a tax if someone's increase in inflation costs exceeds the $2k or $24k if looking at annual numbers. So if the $2k/month makes the CPI go up 1%, then someone would have to spend $2.4 million/year to have a net loss, assuming there no increase of wages, asset prices, etc. Someone who spends a lot of money would see a net loss, but not someone who earns and spends little. As for investors, it does not matter anyway, as the S&P 500 does well in both high and low inflation environments.
skinnymuch 5y ago
The benefits far outweigh the negatives for households making less than the median income. Worrying about longer term possible issues isn’t exactly high priority for the tens and tens of millions of Americans living paycheck to paycheck. The number of Americans with reasonable savings is not a huge amount. It seems more like people who look down on people who want things like this especially at places like HN either aren’t in America. Or make above average income while not being fully aware of their privilege.

Clearly 65% of Americans don't realize money printing is a hidden tax that erodes their savings.

by lrvick 5y ago

Clearly 65% of Americans don't realize money printing is a hidden tax that erodes their savings.

tibbydudeza 5y ago

Deficits does not matter.

thghtihadanacct 5y ago

Doesnt have to be that way ... lots of spare cash going to defense dept. Why do we always have to find ways to pay for social well being but always got the cash for over priced guns?

felistoria 5y ago
Defense money is budgeted year over year. You could give this stimulus payments to people for two maybe three months and would have spent the defense budget for a year, so now where is the money going to come from?
- thghtihadanacct 5y ago
  $300 billion does add up fast. Pull everything out of BTC before China reveals tether is a scam?
- skinnymuch 5y ago
  This same logic could be applied before the defense budget became what it is. As in where would the hundreds of billions for defense come from? Same with the overspending on health care. Yet the country manages and has managed a ballooning budget and deficit so far. The tie to the status quo being some semblance of good or positive never makes sense to me. The status quo wasn’t always the status quo. It only is now. The country likely won’t teeter on hyper inflation if an extra trillion or so is added to the budget. Especially when a proposal like this would involve a lot of the money going back into the economy.

paulpauper 5y ago

not necessarily. it would only be a tax if someone's increase in inflation costs exceeds the $2k or $24k if looking at annual numbers. So if the $2k/month makes the CPI go up 1%, then someone would have to spend $2.4 million/year to have a net loss, assuming there no increase of wages, asset prices, etc. Someone who spends a lot of money would see a net loss, but not someone who earns and spends little. As for investors, it does not matter anyway, as the S&P 500 does well in both high and low inflation environments.

skinnymuch 5y ago

The benefits far outweigh the negatives for households making less than the median income. Worrying about longer term possible issues isn’t exactly high priority for the tens and tens of millions of Americans living paycheck to paycheck. The number of Americans with reasonable savings is not a huge amount. It seems more like people who look down on people who want things like this especially at places like HN either aren’t in America. Or make above average income while not being fully aware of their privilege.