But the biggest tax ... the one that impoverishes the most people ... is the inflation tax. This literally makes the rich richer, and the poor poorer. Because rich people hold real property, while poor people are trying to "save money".
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Replying to @Nobody4Governor @OregonRolledA20 and
...No it doesn't, it's a "stealth tax" on wealth, which by definition the rich have and the poor do not
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Replying to @arthur_affect @OregonRolledA20 and
And you dont' know that the wealthy do not hold dollars? You should learn something about economics. Rich people hold real estate, precious metals, stocks, and other investments. Not dollars.
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Replying to @Nobody4Governor @OregonRolledA20 and
"Other investments" includes debt (bonds and other obligations) This is a very major, significant asset class you mysteriously keep leaving out
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Replying to @arthur_affect @OregonRolledA20 and
It is an exception to the rule. But it's not the bigest asset class by any stretch. So tell me , why is it GOOD for governments to rob their people with bullshit money that loses value every single year?
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Replying to @arthur_affect @Nobody4Governor and
You know the whole history of the US is racked with periodic riots and violence from poor people EXPLICITLY DEMANDING MORE INFLATION right William Jennings Bryan's "cross of gold" speech
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Replying to @arthur_affect @Nobody4Governor and
On the subject of Bryan, what's your opinion of him? Would he have made a better president than McKinley/Roosevelt?
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Replying to @TellerGrim @Nobody4Governor and
*shrug* I don't know enough in detail to really have an opinion but as a lefty you kinda have to say yes
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Replying to @arthur_affect @TellerGrim and
The hard money people back then were openly on the side of the rich and thought the poor were a filthy rabble who needed to be kept in line by being broke and desperate for work Like, they didn't hide that shit back then, you could just say it
1 reply 4 retweets 18 likes
So it's really fucking weird that being hardcore anti-inflation is getting reinvented with a straight face as helping the working class get a hand up in the face of all of history (Again, it's not actually weird, it's predictable, but you know what I mean)
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Replying to @arthur_affect @TellerGrim and
Inflation by its nature devalues money you hold today more than money you earn in wages tomorrow. So yeah. It's definitely going to impact the extremely wealthy more than the poor. They have assets that devalue, because most of their asset class is in cash or investments.
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Replying to @padraig2112 @arthur_affect and
Jeff Bezos is not holding onto 700 billion in gold bars.
2 replies 0 retweets 1 like - Show replies
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