Here's what ZERO of the doomer-preppers (including smart analysts and economists) don't get about inflation. When a US citizen earns an EXTRA dollar, they pay

Here's what ZERO of the doomer-preppers (including smart analysts and economists) don't get about inflation. When a US citizen earns an EXTRA dollar, they pay MARGINAL Tax on it (not average tax, but MARGINAL). The left (or right) of the GDP equation is literally income. So a 7% inflation means, US treasury gets MARGINAL tax revenue on the 7% income, which mathematically means that Tax Revenue increase has a higher-multiplier effect. (A 1% inflation may result in 3% more tax revenue) So, all these scaremongering of US having to pay extra interest is actually false. Treasury will make far more Tax Revenue than the rate Federal Reserve can raise rates, which means they can easily absorb high rates. All in all, Fed is still better of erring on the inflation side than crashing the economy. Inflation eats away 7% of most people's income. A Recession will eat 100% of many people's income. Note: This Tax collection phenomenon is completely different from inflation favoring debtors, which is also another advantage for USG.