Now I'm wondering how many ideas you have heard, such that this one is the best of all of them. Inflation as a tax is inherently regressive, as the rich are us

Now I'm wondering how many ideas you have heard, such that this one is the best of all of them. Inflation as a tax is inherently regressive, as the rich are usually the first to hold the newer money, and the poor the last to hold it, long after all the information about the new size of the money supply has already leaked out to the market. And it is a tax on holding the circulating currency. The rich often trade their currency for ownership in ventures that produce passive income, or, at worst, low-risk government bonds. In order for those investments to sell, they will have to offer a rate of return exceeding the expected rate of inflation. If inflation is used in place of all taxes, then just reading the government's budget is sufficient to predict the rate of inflation. The poor see annual wage increases near the expected rate of inflation, if they have sufficient labor-market power, or below it if they don't. Monetary inflation is a tax on holding dollars. The rich don't hold much of their wealth in dollars, percentage-wise. They hold ownership of productive assets and inherently valuable properties. A tax on money doesn't touch those who get all the money they need from ownership of their wealth.