Inflation is the cruelest tax

March 28, 2014 | 10:08 am

There are 109 million Americans working in the private sector, supporting 87 million people working for the government or on various support programs; add in the billions of dollars in pensions, with more to come. Since the only source of real wealth is in the private sector, how long can we sustain this? Not much longer.

Many well-respected economists and economic historians tell us that the federal reserve is playing a very dangerous game. Runaway inflation looms ever more possible as the dollar continues to erode in value. Sooner or later we will have to pay the piper as the saying goes.

Remember, inflation is by far the cruelest tax. Inflation impacts everyone, including those least able to cope with it.

Gary Sargent

Cedar Rapids

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