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It seems like this might be a new form of taxation. Instead of taxing people directly, which requires voter approval and creates bad press for the politicians
by Dig1t 3y ago
It seems like this might be a new form of taxation.
Instead of taxing people directly, which requires voter approval and creates bad press for the politicians involved, why not instead just create the money you need and pass the costs down to taxpayers in the form of inflation?
It is the worst kind of tax though because it affects the poorest people the most, since rich people have their assets that rise with inflation.
- lotsofpulp 3y agoDevaluing currency (and promised benefits) is not a new form of taxation. My grandparents used to tell me the the things they bought with eights of a penny. Social Security retirement age and benefit formula “bend points” have been repeatedly altered to reduce the value of the benefit.