As I see it, there are two classes: the people who create money, and the people who create real products and services. The real conflict is between the two. Our national debt–that carried by the Federal, State, Local governments, and that carried by private businesses and individuals–is symptomatic of wealth transfer. Most of the money created to enable those bonds of debt represented wealth transfer.
The associated price increases are merely the effect of this transfer. Inflation, per se, ought in my view to be seen PRIMARILY as wealth transfer, and only secondarily as price increases.
The key point to be grasped here is that even if the wealth is moved from the people to the government–which has plainly happened in the U.S., which you can readily see if you just look at the land and buildings and things generally owned by the Federal government–it does not benefit the “people” in aggregate. It hurts them. It is EXACTLY the same problem as that criticized by leftists in claiming that “the rich” steal from the poor.
Key point: it is possible to sustain the moral dimension of leftist critiques of our class system, but only if the correct targets are selected. As things stand, ALL of their policies instead still support elites at the expense of the common man.