[michaelt]

How is a 1% inflation rate meaningfully different to a 1% tax on savings and investments, and a 1% subsidy on debt?

[Negitivefrags]

It’s a tax on savings, but not on most investments which would typically be assets that rise with inflation.

[empath75]

It’s a tax on debt issuers. Anybody loaning money will have to charge a much higher interest rate or they’ll get back less than they lent out.