Understanding Inflation as a Hidden Tax

Inflation is described as a hidden tax imposed by the government, effectively robbing citizens of their purchasing power without their consent. Unlike traditional taxation, where funds are collected transparently, inflation takes place quietly, eroding the value of money over time. This means that individuals are not given a choice in the matter, as they can't vote out inflation like a politician. Figures such as Milton Friedman have emphasized that inflation arises from government spending and the expansion of the money supply, creating a situation in which the true cost of government actions is masked from the public.