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Printing more money effectively taxes the super-rich as well.
by Khelavaster 3y ago
Printing more money effectively taxes the super-rich as well.
- anonylizard 3y agoCompletely false. Real assets hold up much better under inflation than savings accounts of ordinary people.
- deleted 3y ago[deleted]
- Condition1952 3y agoFreshly printed money goes directly into the pockets of the mega-rich
- deleted 3y ago[deleted]
- usrusr 3y agoIt's exactly the opposite: the super rich don't just have all their wealth in assets, they have far more than all their wealth in assets. They buy real estate using mortgages just like everybody else. They are billionaires in net worth, but their debt is usually much bigger than the sum of their cash-equivalents. They win from money devaluation just like any poor mortgage serf, just magnified by some trailing zeroes. Printing money taxes the guy with the savings account and nobody else.
- okokwhatever 3y agoI would clap if I could
- rahen 3y agoNo, inflation concentrates the wealth into the hands of the government, banks and the wealthiests, not the people. This is called the Cantillon effect.