Inflation always seems an interesting
concept.
As a dividing line between creditors and debtors, it is wide as eternity.
The ability to repay a debt is made easier by inflation: more money--I suppose it would be called nominal money--is acquired for not as much work as before the current increase in inflation.
Thus, the value of the debt falls--or at least is easier to pay. This is good for the vast majority of any country's population--but is not so good for those who hold the debts. The value they receive is less than the value of the capital they invested--as measured by the amount of work needed to generate it.
Seen through this lens, the macroeconomic policies of the Fed, controlled by those who control the banks, among the biggest, if not the biggest issuers of credit in the United States, can be understood--and whose actions exert great influence in the entire world.
As for Mutual Funds, they are not any means of blurring the line between workers and owners--Mutual Funds, say the Magellan Fund, is uninterested in what any fundholder wants; it's just another company!
The system doesn't change; it merely becomes more complicated.
A progressive tax structure would be a very good start, but I agree, it is not likely--more likely a regressive tax.