How the Fed’s Printing is a Massive Tax on the Middle and Lower Classes

The Fed bought 61% of all debt issued by Treasury in 2011 = printing money electronically.  Rates are so low and spending so high it's the only way Treasury won't have failed bond auctions.

This is an indirect tax on the middle and lower classes in the form of inflation.  Devaluing the currency robs them of their purchasing power something that should be very noticeable when one buys food, gas or any other item at retail.  Middle/lower class salaries never keep pace with inflation rather tend to lag.

If you want to soak ultra-rich people like Romney due to low tax rates on capital gains – fine by me, but I can't understand why so many on a blog that purports to represent the populace want to tax the lower/middle class so heavily.

Neither party represents the general populace and the sooner people realize this then the sooner we can fix the mess in DC.

 

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