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

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5. other than one throwaway sentence, he's not talking about the tax code or any actual tax.

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.