" Inflation is much more complicated. If the inflation occurred at the moment that the money was printed, then it would be a tax on whoever happened to be holding the currency at that point in time. "
You are not thinking clearly. The Fed already prints money, this is well know and is incorporated in the inflation and risk component of any bond's interest rate. As long as policy is transparent, bondholders will do fine.
"If a flat tax is such a good idea, why not just implement a flat tax?"
A flat tax has it's own distortions as you well know and still requires the IRS. A true flat tax is hard to implement politically and has it's own idiosyncracies. Inflation requires no bureaucracy.
"Or if you believe that we should turn on the printing presses, why not do it now? "
It is being done now, or are you saying inflation is zero? Or that the Fed reserve doesn't already create money out of thin air? The Fed continually expands the monetary base, that's how inflation is kept near zero (otherwise, money would increase in value - deflate - with time as the productivity and equity of the country increased). Where do you think deficits have gone historically, going back to ancient history? Or are we still in hock for Roman debt?
Come on, admit that watching the percentage of GDP devoted to government is more important that obsessing over the deficit. Drop the government take below 20% and everything will work it's way out, it always has.
If deficits do not matter, as you say, how do you propose that we pay the interest on the additional debt?
to which you replied:
Quite simple, hit the start button on the printing press.
I then asked:
Or if you believe that we should turn on the printing presses, why not do it now?
and you replied:
It is being done now, or are you saying inflation is zero?
The question, of course, was why don't we print enough money so that there is no deficit and no additional debt. This is what you suggested in your reply to my first question.
In any case, I'm learning nothing from this conversation and I assume that the same goes for you. I suggest that we end it here.