Inflation is a broad rise in prices when
- Government prints more money to pay for programs and entitlements
- People who have more money spend more money
- Output volume doesn’t keep pace with demand
- Demand exceeds supply driving up prices
- The hidden tax: Any transfer of a population’s wealth to the government
- Unlimited revenue: Inflation transfers the same percentage from all income stratas to the government
- Quantitative easing: Printing more money with-out legislation
Hidden tax: the silent wealth transfer
The economy is a government-run institution that manages the trade, consumption and production of goods. The wealth of middle class households is rising (adjusted for inflation). However, the share of middle class wealth has been decreasing since 1985. The middle class has dropped from owning 35.5 percent of all wealth to owning 24.5 percent (2021).
The wealthiest 10% of Americans control $93.8 trillion—more than double the $40.3 trillion controlled by the remaining 90 percent.
The amount moved from the bottom 90 percent of income earners and captured by the top 1 percent over last decades.
1947 to 1979
The middle class earned 54 percent of the nation’s total income; the economy grew at an average rate of 3.7 percent annually.
1980 to 2010
The middle class earned 46 percent of the nation’s total income; the economy grew at an average rate of 2.7 percent annually.
2,678 regulations Pres. Biden’s new rules have now surpassed Obama’s
Federal government spending is up 155% 2022 v. 2019