Yesterday, 03:38 PM
But you see, there's the flaw in your little scheme. The rich, who have assets, have a shield from inflation. Prices go up, but so do the value of their assets. The lower classes who have fewer assets have to pay more for their goods and services. In addition, they already spend a larger share of their wealth on goods and services.
There is nothing more regressive than the inflation tax. Which is why the rich allow congress to operate without a balanced budget. They are shielded from the taxation.
Focusing solely on "income" misses the point. The rich have myriad ways to hide income.
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