The one point in the system that drives me up the pole is the “capital gains” rate. I completely agree that when you invest your money in a company, you are driving business development. What I don’t get is how one is doing that when they sell a stock they bought from someone else, not in an IPO. That “gain” should not be a capital transaction. It is no different than putting money in a bank and drawing interest (well that used to happen) and being taxed at your regular rate.
As far as the great Buffet goes, I believe he is still fighting a tax assessment from the last decade. He is only interested in other people paying their share but like all libs, what they do is above reproach.
“Gains” due to inflation of long held assets should never be taxed.
Not quite the same. The investment is much more at risk than in the bank. Not all stock is sold at a gain. Stock in a company is the same as buying a piece of property.
Uncle sugar has his hand out when you make money and slow walks deductions for losses and they can only be used against capital gains for stocks held the same period.
Short term gains are taxed as regular income. Would that make you happy?
Put your money at risk in companies and let me see how that works out and how you feel when your risk is taxed as regular income.