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Why Inflation is Good for The Government
Why Inflation is good for the Government…
But Terrible for you! The original tax rates started at 1% & went to 7%. Today it is 10% for the lowest bracket to 37% for the highest federal tax. Then add State & local income taxes. By printing more currency with no backing (Monetary Inflation) it leads to asset price inflation (more property taxes) and consumer price inflation. Eventually there is wage inflation. As you make more money you not only pay more in taxes, you move to a higher tax bracket & pay a higher percentage in taxes. This is why forever wars & guaranteed welfare paid for by fake…
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