Inflation is the most insidious unkindest tax of all...
Insidious because no one knows it is happeneing until it is too late.
Unkindest because it affects the middle class job creators the most.
It affects savers the most. Since job creation comes out of capital formation, and you can’t expand production without saving, yes, it strikes directly at job creation. That is, productive job creation. They create jobs during the boom part of tge cycle off inflation tax proceeds, but they never seem to stick around through the bust.