Yesterday, 07:07 PM
Which American peoples' situations? They are not an homogeneous aggregate and won't all be affected in the same way. Those in direct receipt of deficit spending will gain at the expense of those who are not, while those who are taxed will lose to the advantage of those who are not.
In the second of your "two ways" - inflationary deficit spending that "mak your money worth less" - most people (especially the ones who can least afford it) are going to end up on the shitty end of the Cantillon chain. With tax cuts (and especially if "government simply stopped collecting taxes"), most people would at least realize some immediate benefit before eventually getting shafted.
IOW: it is a good thing if a mugger steals less of my money on the "front end," even - indeed, especially - if the money he spends on hookers and blow is going make my money worth less down the road.