Elon Musk: “Inflation is really just a pernicious tax that has been used…”

“… to what they are right now, which means that, you know, standard living will actually probably be higher, a little bit higher. Whereas we've had rampant inflation to date. And Inflation is really just a pernicious tax that has been used by governments throughout history. It's very tempting for governments to use inflation as a tax, but because it's indirect. People see the prices rising at the grocery store or for goods and services or for houses, and they tend to blame the store.” (1:04:10–1:04:16)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.