No use. Remember TianAnmen? one of the main causes of the TianAnmen incident was the high inflation. Throngs of chinese students rallied in the square, threw their bodies against tanks,etc. However, Americans nowadays fed on a diet of reality Tv,facebook and twitter are too pussified even if they have guns. They vote in a bunch of criminals to replace the current rapists. Let's all get gangbanged together. yeah that's it, Americans love getting raped in the ass time and time again, preferably by different people at the same time.
it's fun to pick on the less fortunate and blame them for all the problems in the world ( yea they really pull the strings) If you add up all the corporate welfare,handouts, bailouts you'll see the real welfare state. But i don't expect that on this site the egos are way to big here Banks get caught with fraudulent loans (lier loans) the response: Oh those illiterate black and non English speaking immigrant out smarted the ivy league MBA masters of the universe and brought capitalism to it's knees. Bank get between 13 and 26 trillion send that money abroad and drive up commodity prices. the response: oh the few hundred billion we spend on food stamps and unemployment is going to break us all Lazy poor people why can't they learn how to pillage and plunder while wearing a $1000 suit.
I think you are essentially right about the very poor,i.e., those on food stamps and free medical care with no income whatsoever beyond what you and I give them via the government. However consider those folks just above the poverty line, and there are millions, that are making a little too much to qualify for food stamps or medicaid, and at the end of each month have virtually no disposable income after paying for the necessities of life (food, shelter, clothing, energy, transportation). For these folks, the inflation tax takes a big cut. Remember that wage increases have lagged overall inflation for many years, and this is a factor in pushing folks out of the bottom tier of the middle class and into poverty. Most of the poor, those below the poverty line, are working at some menial low wage job. Even if they qualify for assistance they will pay the inflation tax. There is no escape from that except for those whose entire income is inflation indexed, and even in that case some inflation tax is paid because the government's method of computing inflation underestimates overall inflation in the economy. (This saves billions naturally when it comes to indexing entitlements.) It seems Telozo had a very good point. The poor really don't have any assets to speak of, whereas the assets of the wealthy do offer some inflation protection. I am still holding to my basic position that inflation is more harmful to those at the lower end of the income spectrum than it is to those at the top. But I am willing to be convinced otherwise. For myself, I'd rather see a more honest approach to taxation. Less deficit driven inflation and more direct taxation. Then we might be a little more demanding that the government exercise fiscal restraint. Hiding excessive military and medical spending, and corporate welfare too!, behind inflation is making it too easy to spend money that isn't there. (I'm not defending welfare moms with 4 out of wedlock offspring, nor their irresponsible male cohorts. Just making an observation about inflation and its different impact on parts of the economic spectrum.)
This country itself could go broke but one thing for certain that will not happen is for the elite class to lose their wealth status. That is, as long as there are politicians who solicit campaign contributions.
From BBC regarding UK national debt. <object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/JrjrnrqcWlc?fs=1&hl=en_GB"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/JrjrnrqcWlc?fs=1&hl=en_GB" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="640" height="385"></embed></object>