It is almost explained above. If there is 5% inflation, it's actually like everything costs 5% more, which is like a flat sales tax on everything. Such a scenario benefits the wealthy, who have more disposable income, while those living paycheck to paycheck (or not even making ends meet as it is) will be hit hardest.
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I don't think that's really how it works.
ReplyDeleteIt is almost explained above. If there is 5% inflation, it's actually like everything costs 5% more, which is like a flat sales tax on everything. Such a scenario benefits the wealthy, who have more disposable income, while those living paycheck to paycheck (or not even making ends meet as it is) will be hit hardest.