Over-taxation by Inflation
Free-market critique of The Affluent Society and other works
How the government exploits inflation to hide tax increases
Incomplete adjustment transfers more revenue to government that taxpayers know or wish to pay. Between 1973-74 and 1975-76, for example, personal taxes more than doubled.
Inflation is taxation by misrepresentation. Large increases in tax revenue induced by inflation exonerate politicians from asking the electorate explicitly for higher tax rates.