Adjusting capital gains tax to reflect real return instead of nominal return actually makes a lot of sense. In general I feel taxes on capital gains is unfair and doesn’t make a lot of sense, but this is a step in the right direction. For example let’s say you hold a stock for a few years and the value of the stock has doubled, but that inflation has also made it so the value of a dollar has been halved. The real return is zero but because the nominal value doubled you would pay taxes on the capital gains and actually make a loss in real dollars. Yes this benefits the rich the most but middle class Americans that invest in the stock market stand to gain a lot too!