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It reduces debts, it even helps most corporations. Hyperinflation is obviously bad, but a little inflation is pretty good a lot sometimes. Obviously, inflation that is anticipated doesn't affect much, but review unanticipated inflation affects certain groups in different ways. Who is penalized by unanticipated inflation (Losers)? Lenders- review dollars paid by debtors are worth less after inflation than when they were lent. Investors- pay taxes on returns that may review only reflect inflation, but they also pay a privileged rate (the capital gains tax rate is 20 percent; not the 33% top income bracket) Holders of cash (those living on fixed incomes)- inflation erodes the value of a dollar over time. (But who uses cash? The mafia, terrorists, drug dealers, and Republicans but for quite different reasons.
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