It is called inflation. Consumption taxes are better than income taxes. Tariff being the premier consumption tax. We have to pay the piper now, to wait means to lose everything; But Free Traders can't see that. No instead they will run the USA into the ground and start GD II followed by full blown socialism. I didn't say repatriation of industry and ending insane Free Trade(de industrialization) would be painless.
No. Inflation is a rise in the general price level.