And in a taxable account, the IRS imputes phantom interest each year. Uncle Sam taxes you on gains while inflation robs you of value. You pay taxes on money you haven’t received for an investment that’s losing purchasing power.The U.S. money supply has grown at 7% annually for decades. At 7% debasement, purchasing power halves every decade. After 30 years, your $100 will buy what$13 buys today.But the real trap is that future $100. Inflation is not just the CPI print . It is monetary dilution.With 30 years ...