How To Avoid Paying the Cruelest Tax: Inflation

https://www.wsj.com/articles/how-to-avoid-paying-the-cruelest-tax-inflation-11601631007 

With their portfolios gyrating and an election looming, investors are spending more time than usual pondering what their taxes will look like in the future. But they haven’t given much thought lately to “the cruelest tax”—inflation. Maybe they should.

Rising prices can do funny things to a portfolio, most of them bad. Stock prices might rise without really being worth any more, or stay steady and lose buying power. Bonds become “certificates of confiscation.” Broadly speaking, inflation shrinks private savings and bails out...