Not even taking a side either way, while this of course over time helps with the dollars of taxes you pay(assuming it’s structured reasonably) this creates an absolute nightmare of complex calculations and tracking that you have to do and carry over literally forever, including your descendants. An ever growing number of accountants, lawyers, and bureaucrats would be hired in this scenario for a net overall loss to society.
So in summation, I think this sounds good the the surface, but is actually not a solution. 

 Oh I 100% agree with everything you just said and for those reasons, I think the entire thing is comical to even propose. As a caveat, I wish we were this passionate about the inflation rate they arbitrary say is okay for us when that is essentially a promise to me that my money today is just going to bleed away tomorrow. That is the most immoral tax out there.