Eh. But inflation only affects nominal assets like bonds and bank account balances. Real assets like houses or stocks (to a degree) would be expected to rise al

Eh. But inflation only affects nominal assets like bonds and bank account balances. Real assets like houses or stocks (to a degree) would be expected to rise along with inflation. That makes inflation distortionary, not some ideal tax on wealth. Governments can't just run away with inflation as an alternative to tax.