Re: How much is the annual inflation tax?
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First off, it isn't necessary to start a poll to ask what the inflation rate is, government and private estimates are all over the web.
Second, tax on what? Income? Capital Gains? Wealth?
Third, the idea that government causes inflation to raise revenue is silly. Sure, the debt is reduced over time by inflation, but expenses increase as well. Social Security, Medicare, and government salaries all get a cost of living bump every year. Inflation is also reflected in the interest rate they have to pay to service the debt.
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He's talking about the tax on devaluing purchasing power by money supply injections - seignorage. This is collected by governments printing money, or having the central bank issue new money, and the newly created money is then used to purchase goods and services.
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Yeah, that's what i was talking about.
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And what I posted will give what you want to know.
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