Inflation is just another tax.

submitted by jet199 from mercurynews.com

all 10 comments
sorted by:
top
newinsightfulfun

[–]Zapped 6 insightful - 3 fun6 insightful - 2 fun7 insightful - 3 fun -  (2 children)

It is also a tax on savings. The money in your bank account is now worth less. That difference goes to the money the government printed and spent on pork-barrel projects.

[–][deleted] 4 insightful - 5 fun4 insightful - 4 fun5 insightful - 5 fun -  (0 children)

The money in your bank account is now worth less.

Not if you don't have any.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

But the government doesn't print money, the Fed does.

[–][deleted] 5 insightful - 3 fun5 insightful - 2 fun6 insightful - 3 fun -  (1 child)

That is a really good case against leaving your money idle. If you had $1500 in a noninterest bearing account in 2007, you lost $500.

If you aren't earning money you're losing money.

[–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Correct. And if you're losing money in bad investments, you're losing money. 10 to 20% is what I strive for in investments, and anything close to 5%, you're breaking even at best.

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Yes it is, but it is also the most universal tax. Governments should never tax anybody, instead they should MINT their own money. I could see governments buying mines, and making money out of the minerals they extract (mainly silver, gold and platinum, but other stable elements could also be used in a pinch) and making their own actual MONEY (not currency, but actual money). Then spending that into the economy. But there's a huge problem with that: IT DOES NOT ENSLAVE THE CITIZENS.

Taxes server only one purpose: to keep the citizen down.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

the banks are bleeding. the insurance companies are suffocating. natural resources are scarce.

money can not and will not fix our current problems.

this is the reality, the economics that they teach you in college is pure bullshit.

these problems can not be resolved by altering the narrative.

when the titanic is sinking, government bailouts will not prevent her from sinking.

[–]jarcalon 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

A great way to lose 10% of your already taxed life savings in a year to benefit interest groups.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The main problem is more money is owed to banks than actually exists. They lend a principal and expect principal and interest, but since they are the source of money, they expect more money back than actually exists.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Right. You're so right. Thumbs up.