Hacker News new | ask | show | jobs
by 10000truths 7 days ago
> Inflation is caused by the government, not wealth creation. The US had zero net inflation from 1800-1914, despite incredible amounts of wealth creation. The inflation since 1914 is caused by government deficits.

> Government deficits are not caused by rich people. They're caused by the people you voted for.

I do not dispute this, but the deficit is exacerbated by a lack of tax revenue. Scrutiny will naturally move towards the people who are most able to fill the coffers.

> No, they're not. Their availability and price is determined by the Law of Supply and Demand.

I misspoke. What I meant to say is that the demand is fixed (i.e. inelastic). As you said, you can only eat so much - a poor person's subsistence will make up a much larger portion of their monthly budget than a that of a rich person.