I'm a bit late to the topic but it seems to me that equitable inflation does result in some sort of "wealth redistribution". I know it's a little bit extreme but let's assume there are 3 people in the economy who respectively own 1, 1 and 100 units of currency. The person with 100 units is 50 times richer than the other two combined. However, if the inflation is set at 1000 units, after one cycle of inflation, the amounts are 1001, 1001 and 1100. The person who started out with 100 units is now poorer than the other two combined and only slightly richer than them individually.
I don't think this contradicts the point I was making though. If inflation was set at 50%, the total amount to redistribute would be (100+1+1 * 0.5) 51 units and each person would get and additional (51 * 1/3) 17 units. So the amounts after the first inflation cycle would be 18, 18, 117. The richest person, who was 100 times richer than the poorest before inflation, is now only 6.5 times richer. Do this a couple of times and the relative difference between the amounts become smaller and smaller.
