Kind of but in another way. It's an indirect tax on cash holders. Those who have the highest percentage of their wealth in cash/checking accounts/time deposits

Kind of but in another way. It's an indirect tax on cash holders. Those who have the highest percentage of their wealth in cash/checking accounts/time deposits are poor and working class people. It's an easy way to grab money without too much resistance, which you'd get if you came for the assets of the actual wealthy: Stocks, real estate, etc. Most poor folks aren't literate in economics and don't even understand exactly what's happening, they just have a vague feeling they're getting ripped off by "those up there" and they're right. But they can't fight back.