On 02/19/2010 10:17 AM, Pete Theisen wrote: > Leland F. Jackson, CPA wrote: > > >> http://www.washingtontimes.com/news/2010/feb/19/induced-inflation-feared-as-way-to-cut-debt/ >> >> or >> >> http://tinyurl.com/yb9pso3 >> > Hi Leland, > > Inflation? US? Nudge, nudge - wink, wink. > >
An inflation policy by the USA to cope with the huge debt would be bad news for those who have retired, because they will pay the bulk of the hidden inflation tax. While most of the economy can adjust to inflation, those who have retired and depend on Social Security, Medicare, 401Ks, etc, to provide a material amount of their standard of living are lock into a constant that will buy less and less, as inflation whittles away at their buying power. Although no one is spared from the hidden tax created by inflation, those in retirement will be hurt the most. It would be much fairer to have an above board tax increase on those most able to pay, and leave retirees alone. The annual adjustment to SS for increases in cost of living is a joke, and never cover the real loss in buying power that occurs over a year. Regards, LelandJ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
