Could our government run on just the money it prints?

Question

Instead of having people pay taxes, it just prints up the money it needs. After all, if it prints up too much money the value of the money people own decreases in value and that has the same effect as a tax. The more money you have the more less it becomes, the lost value is a 'tax'.

Where am I wrong in this?

Answer 1

Where are you wrong?  In the massive amount of inflation this would cause.  Pretty soon you'd need a wheelbarrow full of cash to buy a gallon of milk