Originally Posted by yesme
If the annual inflation rate in the United States is 5%, one dollar will buy $1 worth of goods and services this year, but it would require $1.05 to buy the same goods or services the next year; this has the same effect as a 5% annual tax on cash holdings, ceteris paribus.
Yes I know how to not only click links, but read them as well. What I'm
saying is that the word "tax" has a specific connotation; it's not simply a synonym for "price increase." An annual inflation rate of 5% may have the same net effect on the consumer as a 5% sales tax on every dollar spent, but that doesn't render the effect on the consumer a tax. The definition of a tax doesn't seem to hinge on monetary implications to the taxpayer.