Back in the days when a piece of candy cost 2 cents or when a First Class letter cost 3 cents to send, people were allowed to keep more of their money. They may not have earned much, but what they earned they were able to keep. Much that that kept money was socked away for a rainy day or for savings devoted to some future goal such as buying a house or setting up shop.

Then came income tax, and you can guess the rest of the story. Included were loss of capital saved as well as the introduction of inflation as a regular feature of life. That piece of candy now costs at least 25 cents (or is part of a bundle for a dollar). In 2021 a First Class letter costs USD 0.55 to send; as of today, postage for a First Class letter now costs USD 0.58.

Even in the years before the Brandon Era, it was difficult for most of us to save money for a rainy day, never mind for a goal such as a house or even a car. This despite people "earning" double or even triple what their parents or grandparents had earned.

The basic formula still applies; it's just harder to execute given extra factors such as inflation, currency debasement, and income taxes. Given how traditional finance is riged in favor of the big players, many people are turning to cryptocurrency to even the playing field if not to participate in the greatest "gold rush" since California 1849.

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