12/ note again: this is CONSTANT DOLLARS. So we're seeing that people produce 2.2 times as much / earn 2.2 times as much over 50 years. Extrapolating to 100 years, that's a 5x. Population has done a 3.5x wealth increase x population increase = 20x compared to your figure of
so if your net worth is, averaged over your lifetime, $1 M and on average 0.5% is in cash / dollars in an account and that loses 2% per year bc of inflation you lose $100/yr or $4k over your adult life pretty trivial compared to income taxes, sales taxes, real estate taxes.
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4k isn't even my real estate taxes last year.
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same and so my argument is "normal middle class people lose basically $0 to the level of inflation we have in the US...and therefore inflation should not be a topic they care much about"
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