How Inflation Taxes You Without a Vote

The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending · May 25, 2026 · 7m · transcript

Episode 11 of The Fiscal Policy Podcast digs into inflation as a hidden tax. Lucas and Luna explain how the U.S. government benefits from inflation by paying back its debt with cheaper dollars, and why this 'inflation tax' hits lower-income households hardest. They walk through the concept of seigniorage, the real-world impact on Social Security recipients, and why central bank independence matters. Specific numbers: the $28 trillion national debt and how a 2% inflation rate effectively reduces its real value by $560 billion per year. No jargon, just clear economics.

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