Re:Ask HN: Lost Economic Theories: Printing Inflation-Free M...
by dnautics on Thursday November 05, 2020 @10:40AM
(#24999153)
Yeah, I should have been more specific. Raising taxes lets you pay off debt, often by hitting the rich harder. Inflation lets you devalue debt, making it easier to pay it off, by hitting the poor harder.
In both cases, debt is accrued mostly by paying middle class bureaucrats and already-rich contractors to perform the "functions of government".
If you inflate, you are sneakily transferring wealth from the poor to the rich. So, why stop?
In both cases, debt is accrued mostly by paying middle class bureaucrats and already-rich contractors to perform the "functions of government".
If you inflate, you are sneakily transferring wealth from the poor to the rich. So, why stop?