Frank130 Wrote:
Dec 12, 2012 8:04 AM
Sowell points out that inflation is a hidden tax on all. When the Federal Reserve prints money out of thin air, it eventually debases all dollars in circulation and more will be needed to buy the same goods as earlier: INFLATION. But every tax increase that either directly or indirectly affects the price of a good, also causes poor people to pay more for needed goods. Sadly, inflation & the hidden cost of goods purchased are not recognized as taxes on the poor & the poor tend to re-elect the politicians that create more inflation & hidden taxes.