I have yet to hear a single convincing pragmatic argument why fiat currency debasement isn’t theft be counterfeit. Looking at the purchasing power of any fiat

I have yet to hear a single convincing pragmatic argument why fiat currency debasement isn’t theft be counterfeit. Looking at the purchasing power of any fiat currency in history, they all, without exception tend to zero over time. A wage earner who works for 40 years in exchange for a fiat currency with 2% annual inflation loses almost 50% of their purchasing power over that time. This is before accounting for taxes. How is that not theft?