Posted on 03/02/2009 12:03:49 PM PST by Suzy Butterfly
Inflation THE HIDDEN TAX INCREASE
As spending increases, and more currency is created, the U.S. dollar’s value will be debased, and your money will be worth less.
This means someone making $40,000 per year may really only have $12,000 per year worth of value from their income.
That also means that the individuals and small businesses who make over $250,000 per year won’t really be making $250,000 per year - since their money will be worth less - yet they will still be taxed at a greater level.
As you can see, this “hidden tax” of inflation affects everyone in the United States - especially the low-income workers, who’s meager income is worth even less in the long run.
http://www.barackobamataxplan.com/obamas-hidden-tax/
Now you get it!
In two years when inflation kicks in, there will be many many more affected by the tax increase.
Inflation running rampant is terrible for ordinary folk.
However, for big business that owes billions of dollars, along with government, it allows them to pay off debt with worthless dollars.
See Germany: Weimar Republic.
You can also look to communism for state run and owned business.
How did your screen name come about?
Could be that the ‘evil genius’ of Obama is that he will be able to pay off our national debt in a nanosecond when we get hyperinflation.
Could be....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.