Is There a New Dollar?

Even if we were to fully monetize deficits moving forward, you're talking 10%, maybe 20% sustained inflation. The point of coming out with a new dollar is to hide the fact that you have massively inflated your currency. If all we're doing is just sending each other a bunch of ones and zeros that don't mean anything, that's not a taxable event. It makes the tax collector's job really hard because they don't know what's going back and forth between us. They can tax some like live in a swimming pool, right? But if that's only a small part of what I do for my overall wealth then it comes into question.