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Politics : Mainstream Politics and Economics
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To: i-node who wrote (50216)8/4/2013 4:40:35 PM
From: TimF1 Recommendation

Recommended By
i-node

   of 85487
 
in addition to the points you raise at that link

1 - Capital gains taxes tax nominal profits which can be smaller real profits or even actual losses. If you buy a security, or land or whatever, then 10 years later with prices 40% higher, you sell it for 140% of what you bought it for, then you've made nothing (and taken a loss after expenses), but you get taxed as if you had made a 40% profit.

2 - A lot of capital gains taxes are taxes on stock profits. If you've held stock for awhile, then in many cases you've effectively paid taxes already when the company you partially own has paid taxes.

3 - A practical reason to keep capital gains taxes low (not necessarily lower than taxes on other income if they are also low) is that investment capital is very mobile, tax it to much and you drive a lot of it elsewhere.
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