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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.

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No, they won't knock on your door with a tax bill. Because it's easier to tax you through inflation to finance that debt:

https://en.wikipedia.org/wiki/Seigniorage#Seigniorage_as_a_t...

"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.

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