I suppose that “provided” inflation is modest, expected, and controllable, and we live with responsible government, then I don’t have much to debate against what you wrote.

But what’s to prevent weaponized hyperinflation? Government can simply print money and inflate away the wealth of its citizens, and claim an arbitrary amount.

Another issue I wanted to focus on was the difference between inflation and taxation. As I mentioned, taxation may be painful, but at least it’s understandable and explicit. Inflation is much harder to understand and hidden, as well as affects different people much more drastically. As always, the poor who depend on cash income and not assets may be disproportionately affected with no recourse.