Henry Hazlitt: Must Pay Inflation Tax
on Tuesday, November 29, 2022Meaning of Henry Hazlitt Money Quote: saying inflation is a kind of tax that must be payed by all. Henry Hazlitt said:
“Inflation is a form of tax, a tax that we all collectively must pay” — Henry Hazlitt
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Henry Hazlitt is characterizing inflation as a type of tax. The quote suggests that when inflation rises, it effectively acts as a tax on everyone in the economy because it reduces the purchasing power of money over time.
While inflation is not a direct tax collected by the government, Hazlitt argues we all end up collectively paying the cost of inflation through higher prices for goods and services.
The message is that inflation should be viewed as a tax-like burden that makes people poorer as their dollars are worth less, similar to how a traditional tax reduces the percentage of income people can keep.
Overall, Hazlitt is describing inflation as an indirect but still significant economic levy imposed on all members of society.
Birthday: December 4, 1795 – Death: February 5, 1881