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by imtringued 1482 days ago
>When the government prints money, most of it ends up with the rich.

That is also true of money "printed" by commercial banks. It is also true of money you spend. It is basically true of money anywhere in the economy.

Why? Because investment income i.e. capital gains scale with how much capital you have. If you can live off interest, your wealth is basically guaranteed to grow exponentially from that point onwards. You earn more than you spend, and the surplus is invested into assets that allow you to earn even more. It is a positive feedback loop that grows stronger and stronger over time. It has absolutely nothing to do with what the government does. It is purely the nature of compound interest.

The only thing the government can do is implement negative interest rates because interest rates go down as wealth concentrates. If interest rates become negative, then the rich no longer earn more than they spend from their capital. Instead, they must work to maintain the capital they have.