Inflation is taxation. The reduction of the purchasing power of our currency was offset and caused by the federal reserve printing our currency and giving that money to the government to pay for more government spending. Inflation is just a tricky way of taxing us.
Furthermore, inflation mostly harms the poor and middle class who have few hard assets that benefit from inflation. Warren Buffet’s railroad goes up in value while the rents of apartments and the cost of groceries go up. - Nick Gromicko
