4 ms·
I have only two points, both are very well supported. 1) Inflation (high, not the good kind of 2%) hurts the poor more than the rich https://www.dallasfed.org/
by weatherlite 4y ago
I have only two points, both are very well supported.
1) Inflation (high, not the good kind of 2%) hurts the poor more than the rich https://www.dallasfed.org/research/economics/2023/0110#:~:text=Low%2Dincome%20households%20most%20stressed,few%20ways%20to%20reduce%20spending%20 https://www.dallasfed.org/research/economics/2023/0110#:~:te....
2) To tame high inflation central banks need to raise interest rates, thus creating unemployment and economic slowdown in general https://rsmus.com/insights/economics/how-high-must-unemployment-rise-to-tame-inflation.html https://rsmus.com/insights/economics/how-high-must-unemploym.... That's also much worse for the poor than the rich (who can afford not to work a few years without being thrown to the streets)
But honestly, you're right, we are talking past each other here there is nothing to be gained.