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Inflation can be combatted by taxing it out of the economy - the issue is who do we tax. One should always tax the rich first - like robbing banks that's where
by lifeisstillgood 3y ago
Inflation can be combatted by taxing it out of the economy - the issue is who do we tax. One should always tax the rich first - like robbing banks that's where the money is
- bluGill 3y agoThe money is in the middle class though. Sure the rich have a bunch, but the middle class has far more. In real terms taxing the rich won't bring in enough money to count unless you redefine rich to cover most middle class.
- lifeisstillgood 3y agohttps://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:2008.1,2023.1 https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr... So if i am reading the very first graph right, the top 10% wealthy in USA in 2023 held about 96Trn out of 140 Trn. The top 10 % is not usually middle class
- momirlan 3y agoTrue, taxing and inflation hit the middle class the hardest. The upper classes don't have "income", they borrow funds based on their assets and have tax specialists that can launder any income. They don't have mortgages either.