http://www.ronpaul2008.com/issues/inflation-tax
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Today, the federal government burdens us with one of the most dangerous taxes it can impose — the inflation tax. When the federal government finds that it cannot afford its out-of-control spending, and is unwilling to directly tax the public, it resorts simply to creating the money out of thin air.
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Here we have the ultimate tax.
A tax on money. A tax on savings. A tax on the poor. A tax on those on fixed income. An escalator that drives all costs up.
And, it creates a positive feedback loop for the cost of gooferment. The Fed inflates so the cost of what the gooferment pays goes up. The gooferment needs more money. The Fed inflates more. A positive feedback loop that any injineer will tell you will ultimately and rather quickly destroy itself. And, in the process, politicians, bureaucrats, and unions get ever increasing pay raises.
A tax on anything dollar denominated.
How silently insidious?
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Reinke Faces Life 