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Inflation is a redistribution scheme of the poor to the rich and from savings to spenders. Life becomes a lot simpler when we just eliminate all these schemes
by jswinghammer 13y ago
Inflation is a redistribution scheme of the poor to the rich and from savings to spenders.
Life becomes a lot simpler when we just eliminate all these schemes and just let people solve problems for themselves. This expectation that you can disrupt the economy in a major way and have the rest of the society stay static around me is a very serious reasoning error.
- jmillikin 13y ago> Inflation is a redistribution scheme of the poor to the > rich and from savings to spenders. Technically, from those with monetary savings to those with non-monetary savings. Inflation will strike someone with $1,000,000 in the bank much harder than someone with a stash of precious metal, large property holdings, or industrial equipment. The hardest hit are individuals who have accumulated wealth but are not skilled enough at managing it (e.g. retirees living on an immediate annuity). Inflation doesn't have much effect on the poor, because income tends to increase along with the cost of consumer goods.
- jswinghammer 13y agoIncome does not rise with the cost of consumer goods. Why is it that people feel so much poorer now than they did 30 years ago? The reason that inflation is a transfer of wealth from the poor to the rich is that the poor do have small savings and that gets robbed from them as the newly inflated money makes it way through the bank accounts of those with influence first and don't ever the poor in any positive way.
- rayiner 13y agoPeople feel poorer now than 30 years ago because of rising income inequality. People's viewpoints are relative, like all human thinking. By nearly any measure, people's ability to afford consumption is higher now than it was 30 years ago.
- capisce 13y agoShould we eliminate taxes, welfare, and universal access to health care too? Let people starve or suffer if they can't find work?
- baddox 13y agoThe first sentence, yes. The second sentence, no.
- stefan_kendall 13y agoThere was a time before welfare, and men and women didn't fall dead in the streets of hunger in droves.
- reginaldjcooper 13y agoOh I like this logical exercise. How about, "there used to be a feudal system, and men and women didn't fall dead in the streets of hunger in droves." Did I do that right?
- thisosound 13y agoWhy do you think it's either/or? Can't voluntarily funded charities replace all of those functions?