Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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Yes, but don't middle class people typically have a larger percentage of their savings in fiat in a bank account, compared to wealthy individuals, making it an uneven tax? For a wealthy individual it makes more sense to spend a large amount of his time investigating how best to invest his capital in various things, like housing, companies, art etc.. On the other hand, spending days to figure out how to get 0,5% more on your 300 dollar savings doesn't make much sense, so you might as well park it in a savings account.
Inflation is a diffuse tax, whereby government takes from society an amount equal to the amount of currency that exists times the inflation rate. Each person pays that tax proportionally to the amount of currency that he has and how long he keeps it before spending it.
Yes, but don't middle class people typically have a larger percentage of their savings in fiat in a bank account, compared to wealthy individuals, making it an uneven tax? For a wealthy individual it makes more sense to spend a large amount of his time investigating how best to invest his capital in various things, like housing, companies, art etc.. On the other hand, spending days to figure out how to get 0,5% more on your 300 dollar savings doesn't make much sense, so you might as well park it in a savings account.
We have graduated income tax, property tax, etc., etc. to compensate for that.
For this truly is the best of all possible worlds
And in this world
The best of all worlds
Why I'm the best of all short-order fry cooks --This guy:
