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How Inflation Picks Your Pocket

Man being pickpocketedDan Sanchez writes in today's Mises Daily
The IRS, after all, is like a mugger. You see the government demanding the money and taking it (unless, of course, you’re fooled by Milton Friedman’s withholding scheme). You see the mugger’s knife, and so you’re more likely to try to defend yourself from him. The Federal Reserve (which does the inflating), on the other hand, is more like a pickpocket. Its taxation is far more insidious. Unless you read articles like this one, you don’t even see its hand in your pocket.

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