LogFAQs > #892133623

And the obvious answer is that youd much rather pay the inflation tax later.

This is not just a matter of opinion; one option is clearly superior to the other. Even putting aside the time value of money (income tax is stolen from you immediately, before you even receive the money, while debt monetization is a process that typically takes several years to fully materialize and money today is more valuable than money in the future), theres a pretty major and obvious way that inflation is a better outcome than income taxes: Inflation is reasonably easy to avoid.

If youre anyone who earns an income, its virtually impossible to legally avoid the income tax (and difficult to avoid it illegally). But there are a whole lot of ways to avoid inflation! Ill bet libertarians have even heard of some of them! For example, did you know that its possible to exchange your federal reserve notes for various inflation-resistant assets such as:

A private, decentralized, impossible-to-inflate online currency entirely consistent with libertarian principles

Precious metals with practical uses that have been a consistent store of value for thousands of years

Real estate, and other physical assets useful for life that tend to maintain their value throughout periods of inflation

Ownership of the companies who own the means of production necessary to produce goods and services that people enjoy and who will be able to charge higher prices as the dollar loses its purchasing power

Whats that? Reason is aware of all of these things and has written about them before? Well thats weird. Given that they acknowledge that there are several different types of assets one can own to immunize themselves against government money-printing, they should be far less concerned about inflation than about the unavoidable income tax, should they not?

And yet here they are, pitching a fit over an increased deficit, even though it means the total amount of theft in society is going to go down. One is hard-pressed to think of any logical reason to take this particular position other than the same tired anti-Trump virtue signaling weve come to expect from the official arbiters of approved opinion. Any organization that is unwilling to celebrate lower taxes is, quite simply, undeserving of the label libertarian.

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