No, it's assuming whatever the government does with it won't cause a generalized inflation spike. Let's say the government wastes all the tax revenue building

No, it's assuming whatever the government does with it won't cause a generalized inflation spike. Let's say the government wastes all the tax revenue building a next-generation aircraft carrier that's so incompetently constructed it collapses in drydock before it can ever set sail. That won't cause the price of everything to go through the roof, except perhaps locally where the money is spent. And actually, the government can often put the money to better use than individuals. Is there incompetence, corruption, and wasteful government spending? Of course. But two things can be true at the same time. I'd like to see an individual try to build a bridge, repair a road, or open a public school off of their tax savings.