If we accept that price inflation is driven by inflation of the money supply, and that Cantillon effects send most of this new money to the financial markets, then we may conclude that this process drives asset inflation in the financial markets in which the wealthy participate.
That is to say that inflation doesn't harm the wealthy. They benefit from it. Inflation will cause the floor to creep up to everyone else.
That is to say that inflation doesn't harm the wealthy. They benefit from it. Inflation will cause the floor to creep up to everyone else.