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What if you're a millennial trying to save up tens of thousands so you can afford the privilege of a shit one bed flat?
Asking for a friend
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The wealthy see their fortunes erode
Only if they have it as cash in the bank, which they mostly don't.
If we want to redistribute wealth we need something like a property tax. Perhaps payable annually or when you when you sell the property, owners choice, so the property rich but cash poor elderly can live in their home until death.
frankenbike
jellybaby
@starfish&coffee
Careful when you criticise inflation people. Obviously nobody benefits from a runaway double digit inflation, but depending on circumstances a period of price increases between 3 - 7% can become a nice little catalyst for economic redistribution.
The wealthy see their fortunes erode, whilst the lower rungs of the economic ladder will have a strong case for wage increases. 'Let's lock in an acceptable increase in union wages now, or you risk even worse increases in labour costs next year. '