Yes, incorporating inflation sets the stage for increasing the capital-gains tax. I am not sure what the counter-argument to that is, but one thing I can think

Yes, incorporating inflation sets the stage for increasing the capital-gains tax. I am not sure what the counter-argument to that is, but one thing I can think of is increased complexity of a tax return for an average joe investor, who bought and sold a few funds in his portfolio. Opponents will also likely point that an official measure - CPI - can be manipulated for political purposes.