According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.
What is your thought on this matter?
Income taxes and capital gains are different though. I mean yeah you can pay some sort of your salaries parts to government, I get that. However I do not understand why you need to pay huge capital gains on your investments as well. I understand there are people with billions of dollars who only make money on capital gains but there are also people who saved up like couple thousand dollars at most and you are now taxing that too on top of his income. I think you should put a limit on it.
Like maybe capital gains tax on people who have over $100k invested and no taxes for people who have less than $100k invested. That way you won't punish the little guy but still make a killing of the money you make on the wealthy. Too socialist?