I'm not on the hook for "my share" of the national debt. The government isn't going to knock on my door with a $62k tax bill next month. That's the government's debt, not mine.
If I spend all my money but still owe creditors more, that's what I'm on the hook for. That's real debt.
"Economists regard seigniorage as a form of inflation tax, redistributing real resources to the currency issuer. Issuing new currency, rather than collecting taxes paid out of the existing money stock, is then considered in effect a tax that falls on those who hold the existing currency."
Eh. But inflation only affects nominal assets like bonds and bank account balances. Real assets like houses or stocks (to a degree) would be expected to rise along with inflation.
That makes inflation distortionary, not some ideal tax on wealth. Governments can't just run away with inflation as an alternative to tax.
If I spend all my money but still owe creditors more, that's what I'm on the hook for. That's real debt.