 Like he said, it's limited damage to wealthy Americans who might have to pay capital gains on inflation-linked assets, but capital gains rates, if they're held for a year or longer, are far lower than income tax rates for most people. He wraps up this article with probably one of the statements I found most interesting. As he said, the most noticeable effects will be a decline in the savings rate and reduction in savings investment for long-term planning, such as retirement and homeownership.