Inflation as tax deduction

[Faramir]

This idea came to me while reading an Ayn Rand essay in Voice of Reason. She believed that if your $1000 is reduced in purchasing power in a year by $100 you should be able to claim that $100 as a tax deduction as it is wealth confiscation by the government via monetary inflation they caused.

Perhaps this a way to keep a government truly accountable to the public with how it handles their finances? The one glaring weakness of course is the LBJ hurdle. LBJ was the first to politicize government GDP statistics through under reporting inflation. A government would be tempted to force government statisticans to work their data.