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George Gammon: How Government Hides Inflation to Increase Your Taxes

Published on 25 Nov 2020 / In Film & Animation

George Gammon explains how the government hides inflation which results in a tax increase over the long term because tax brackets are increasing at a slower rate. In these clips from the 2020 Meet the Masters conference, George Gammon discusses the change to the tax code in 2018 and the ways that the government can create inflation.
0:00 Introduction
1:02 Inflation would be 10% if measured the same as in 1970
3:27 The Trump Tax Cuts use Chained CPI instead of CPI-U, which increases tax brackets at a slower rate
4:55 Example of wage inflation from $50K to $100K
6:40 Your taxes as a percentage of your overall purchasing power is increasing
6:58 Why quantitative easing by the Fed doesn't cause inflation
9:28 Increasing base money supply does not put it into circulation
10:32 How the government will create stagflation
11:20 They will increase money supply with UBI
12:44 They could increase velocity by banning cash
14:14 To keep velocity up, UBI can have an expiration date
14:56 If people earn more by not working, unemployment increases

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#georgegammon #inflation #stagflation

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1 Comments sort Sort By

JustinPeanuts 2 months ago

The inflation tax is particularly important for men. If a man gets married he can wind up with a lifetime financial commitment that requires him to work ever harder while at the same time paying ever higher taxes. A single man has options that a married man does not have.

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