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Income 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
by jswinghammer 13y ago
Income 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.