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Capital Gains Taxes
I often hear the right clamoring for removing the capital gains tax. I don't understand the logic of this.
A capital gains tax is a tax on money gained through a non-inventory asset. What is the logic for removing this tax? Aren't capital gains a form of income and should be taxed just like income? The big difference I see is that the rich make a lot more money off of capital gains than standard income where the reverse is true for the poor. It seems like removing the capital gains tax would be akin to taxing the poor to give to the rich (the way things were when we had kings).
Can someone please explain this logic to me.
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