> Inflation ends up being a wealth transfer from the working class to the rich.

Absolutely, and while my use of the word "dodge" might have been sloppy writing, your analysis of it is spot on.

But also, it is almost universally agreed that inflation in the 3-4% range is healthy for an economy, the eventual effect of governments printing money to pay current obligations and/or securities to "prop-up" Wall Street is a much larger rate, like 20%-30% per year

Just read the histories of South American government defaults or look at Greece now for a primer on the eventual endgame for out of control debt.