You’re right, and I hadn’t thought of that. I think you’d still get the overall effect of a real transfer from richer to poorer people, but the way the tax falls on specific people would be different based on how much money they save and whether they save it in the form of dollars, plus whether they get paid in dollars.
You’re right, and I hadn’t thought of that. I think you’d still get the overall effect of a real transfer from richer to poorer people, but the way the tax falls on specific people would be different based on how much money they save and whether they save it in the form of dollars, plus whether they get paid in dollars.