Posts Tagged ‘Henry Hazlitt’
“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.
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.