The inflation tax is not only real, it's massive

I read that here

getting realer (yep that’s a word and I’m sticking to it)

he's tacking the word "tax" on to inflation to make it sound like something it isn't, and to make it sound like biden is responsible for it.

all he's technically saying is that the government is a big borrower and inflation means it's easier to pay down its debt with inflated dollars. therefore inflation amounts to an increase in effective wealth for the government, and a corresponding decrease in effective wealth for the people who hold treasury debt.

calling that a "tax" is misleading. it's just one of many effects of inflation.

Being pushed by a newspaper that wants to feed the notion that "Biden increased your taxes because there was inflation".

You saw that 2022 Republican talking point here first.

Going to the grocery store explains it quite clearly.

Now, it does reduce the value of debt.

If my income keeps up with inflation then my mortgage is worth less in future "real" dollars. As is Federal debt.

Assets usually appreciate. So if you own a house, it increases in value, cet. par.

It also decreases the worth of many liquid investments. My pension isn't pegged to inflation. My mother's estate was put into self-serving investments by the court-appointed fiduciary with minimal interest. Right now, with interest near zero in demand deposits, the money I have in the most liquid form to get me through emergencies--leaky roof, broken fridge, dead car--has lost 5% over the last year.

In other words, my pension is worth 5% less year over year (I'm not retired, and this might mean "work another year past 67 for the same benefits", my mother's estate is worth 5% less, my savings (which actually were drawn down for an emergency, but are still a few thousand) are worth less.

I figure that between estate and pension I'm down close to the median wage in the US. If it keeps up being "transitory" then I might wind up working until I die.

article, I'm going out to an reputable economics site, and investigate how they view inflation tax, etc. without any bias.

I guess the main point I'm making is that Thehill has a very slanted view/one sided view, skewed towards repug viewpoints (their supposed business favorable viewpoints in another words)...I think perhaps its an example of throwing too much verbiage out there to confuse perhaps? I do have a couple of econ. degrees (minor and major) and their write up wore me out ... I'll look at later perhaps I get more energy.

Thus, more site digging in store on some reputable talking point sites on the inflation tax...

https://adfontesmedia.com/wp-content/uploads/2021/02/Media-Bias-Chart-7.0_January-2021-Licensed-Copy.pdf

-Voltaire.

Since 1965, the US dollar has lost nearly 90 percent of its value.

Let me point out of few things here, we are the government, the government is us. We the people are paying more for stuff. The government is also paying more for stuff. We are paying off debt with inflated dollars, the government is paying off debt with inflated dollars. It's not a zero sum game where the supposed government (that is not us) is somehow making out better at our expense.