[jeromec]

I would argue it hasn't increased nearly enough in proportion to the benefits rich people get from our now heavily inflationary monetary system. In other words, turning on the printing presses is a boon for the wealthy (cheap money to fuel stock market (mal)investment, govt. spending on things like war, appreciation of assets, etc.), but it's a hidden tax on the poor. Then, the rich whose income has risen over the last several years while all incomes below have flat lined (or even dropped) balk at the prospect of higher taxes while our crippling debt now elicits unthinkable political talk of U.S. govt. default.

Edit: I would appreciate a response rather than a downvote. I don't mind disagreement, but at least give me the chance to address it.

[netcan]

Not sure I understand were you're coming from. I'm sure you can find more complex arguments either way but as I understand it the basic effect of printing money is devaluing that existing money - a tax on anyone holding the currency.

Wouldn't the rich be the ones holding a disproportionate amount of cash?

[jeromec]

Yes, the rich certainly do hold a disproportionate amount of cash, but they don't just stick it all in a simple savings account (often the only option for the poor). The rich put their money to work (in money markets, the stock market, property and investments abroad as the article mentions, etc.) so that it earns a return. And they often buy items before the effects of inflation set in.