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334 points tareqak | 1 comments | | HN request time: 0.245s | source
1. CraigJPerry ◴[] No.44470680[source]
Could this transfer enough money to mint a person as the first trillionaire?

Econ 101: A government deficit increases the net financial worth of the private sector.

The US usually increases the net financial worth of the private sector by around $2tn per year, OBBB should move that to around $3tn per year (CBO estimate https://www.cbo.gov/publication/61486)

If you accumulate a dollar per second in net worth, then you become:

  A millionaire in 11 days
  A billionaire in 32 years
  A trillionaire in 32,000 years
Obviously an indiscriminate increase in money without a corresponding increase in output will show up in inflation.

So it's a wealth transfer, from those whose financial affairs will remain comparatively static (your dollar will be worth less via inflation) to those who can capture the new money streams.