Be wary of the stealth tax inflation can hide. It doesn't just destroy dollar-denominated wealth. In a progressive income tax system, such as we have in the US, inflation destroys real income even when that nominal income is effectively indexed for inflation if tax brackets do not undergo an increase corresponding to the increases in inflation and incomes.
For example, if the tax rate is 10% up to $10,000 and 20% for each dollar earned over $10,000, if in year 1 you earn $10,000, you pay $1,000 in taxes. If 50% inflation occurs in year 2, you're now making $15,000. Everything costs 50% more, so it's a wash, right? Except now you are paying $2,000 in taxes--100% more than the year before.
Over the last few years, tax rate schedules have increased at about 3% annually, approximately in line with CPI-measured inflation. But if the leviathan needs to be fed and the farmers and fishers are caught in a secular cycle of declining harvests, its tenders will look for creative, undetectable ways of sucking the necessary sustenance out of the baskets of the producers to grow the beast.