Luckily working people's savings are essentially nothing and you have a wage. Which means it won't affect poor working people. But yes it will destroy savings, which is why it hurts rich people and doesn't hurt poor people: the rich have savings you and I don't have. The rich have savings the state does not have.
Wages grow slower than inflation - that's the point, the government would shortcut this by overpaying, so that wages would grow at the pace or even faster than inflation.
> to keep presenting pompously mysterious arguments which are nonsensical even by the low-bar measure of mainstream economics ...
Still have my original (1970) economics textbook. This is what it says should be done. Explicitly raising inflation to 10% or so helps poor people by destroying their debt, and it hurts every kind of savings in the economy, which is why rich people don't want it. It equalizes everyone.
Besides I don't understand why you're even making this argument. Neither the US nor EU governments will balance the budget. Both are ~4 years off from the point where they will need to pay back more than they can lend, in other words, the point where NOT having something like 10% inflation will directly hurt their budget. And then they'll do what every big organization does when hit in the budget: do whatever to increase inflation. And if the government tried to cause inflation ... it's easy. Very, very easy.
In other words: you can't stop it. I can't stop it. One of 2 things will happen: either governments balance their budgets NOW or 10% inflation will happen. Since the idea of a balanced budget is laughable, that only leaves option 2.