Your logic is flawed.. if it is taken from the richest 1% it is not creating money from nothing it is simply moving money from A to B, therefore still the same

Your logic is flawed.. if it is taken from the richest 1% it is not creating money from nothing it is simply moving money from A to B, therefore still the same amount of money in the system therefore it does not devalue buying power. The rich might put the prices up to steal it back but that is another argument