Grover Norquist Criticizes Taxation of Inflation-Driven Asset Gains, Citing Government Profit from Inflation
Grover Norquist, President of Americans for Tax Reform, has voiced strong opposition to the current practice of taxing inflation-driven gains on assets. Speaking to Fox Business, Norquist argued that the government should not benefit from the inflation it creates by imposing taxes on nominal increases in asset values. He highlighted that this issue impacts a broad spectrum of Americans, including those who own cryptocurrencies, houses, stocks, bonds, farms, small businesses, and land. Norquist emphasized that when consumer prices rise significantly, the apparent increase in an asset's price does not represent genuine new wealth. He stated that taxing such gains effectively penalizes individuals for the weakening purchasing power of the dollar, rather than for actual economic growth. This perspective aligns with long-standing arguments from conservative economists and tax reform groups who contend that taxing the full nominal increase in asset value, when that increase is primarily due to inflation, diminis... 
