patrick.net

It struck me a few years ago that in addition to the standard "your money is worth less" form of stealth tax that money printing brings about, there are a couple other more subtle tax increases as well.

1) IRS brackets are not indexed to inflation rate - they go up, but this is an effective direct tax increase on the lowest rungs of the income ladder
2) Capital gains basis is not indexed to inflation rate - If you sell after 20 years of holding, you probably pay double on the inflated cost basis in real terms.

Just some other saddening thoughts about how money printing screws everyone.