Scott Adams and Rasmussen's "It's okay to be white" poll

[Krugminator2]

But you see, there's the flaw in your little scheme. The rich, who have assets, have a shield from inflation. Prices go up, but so do the value of their assets. The lower classes who have fewer assets have to pay more for their goods and services. In addition, they already spend a larger share of their wealth on goods and services.

There is nothing more regressive than the inflation tax. Which is why the rich allow congress to operate without a balanced budget. They are shielded from the taxation.

Focusing solely on "income" misses the point. The rich have myriad ways to hide income.

Real assets don't shield you from inflation. Wealth inequality was near the lowest in history in the early 80s after prolonged inflation because equity prices had stagnated. There is no rich person who likes inflation. Here is a 16 year chart of the Dow during the last period of high inflation.