From: "E. ALLEN SMITH" <EALLENSMITH@ocelot.Rutgers.EDU>
Date: Wed, 8 May 1996 13:43:40 +0800
To: tcmay@got.net
Subject: Re: Why I Pay Too Much in Taxes
Message-ID: <01I4FOV28VPS8Y59D8@mbcl.rutgers.edu>
MIME-Version: 1.0
Content-Type: text/plain


From:	IN%"tcmay@got.net"  7-MAY-1996 00:45:56.61

>By the way, as long as I've added another comment to this not-very-relevant
>thread (but one which has generated a lot of comments, so it's hard to hard
>folks aren't interested), I should mention that I left out the effects of
>INFLATION in my "60%" figure.

	Actually, inflation is relevant in a different way. In a system under
which a democratic (or otherwise popularly-influenced) government has some
control over the money supply, some inflation can be used as an invisible tax
going from those who save (primarily those of the middle class and above) to
those whose jobs are affected first by economic downturns (primarily those of
the middle class and below). This has relevance, in regards to privately
produced currencies and digital cash.
	-Allen