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[–] 27 points 4 months ago (6 children)

It does. It’s called inflation.

Modern millionaires don’t hoard cash, just like ancient millionaires didn’t hoard apples or wheat. Sure, millionaires always had something perishable, but most of the wealth was/is tied in things like land, buildings, companies, ships, cattle, slaves, stocks, bonds, loans etc.

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  • [–] [S] 2 points 4 months ago (5 children)

    Inflation has little impact on the wealthy. I should have said wealth or assets

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  • [–] 1 point 4 months ago

    It makes them invest their money which puts it to good use. That makes credit cheaper for everyone else.

    Inequality is an issue, but that's what taxes are for. You don't solve inequality by breaking the economy.

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  • [–] 1 point 4 months ago (3 children)

    Yeah that’s a good clarification. If land and old paintings had had an expiration date…

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  • [–] 2 points 4 months ago (2 children)

    I mean the Mexican government makes it so that land can only be owned for 100 years.

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