Monday, June 8, 2009

Fed's Hoenig: Inflation Is the Most "Regressive", "Corrosive" Tax

from Thomas Hoenig, President, Federal Reserve Bank of Kansas City:

"...I often emphasize that inflation is the least fair, most regressive and most corrosive tax we can impose upon ourselves. It is particularly harsh for low- to moderate-income citizens." (delivered Jun3, 2009, Sheriday, Wyoming)