6 Reasons Capital Gains Tax Should be Abolished.

6 Reasons Capital Gains Tax Should be Abolished.

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To summarize, Capital Gains Taxation is a preemptive form of double taxation by our government. If you by something and sell it later at a profit, it is the taxation of these profits. Obama wants to raise the Capital Gains Taxation rate from 15% to 20%, so he wants to increas it by 1/3.

Conservatives prefer consumption based taxation, by either a flat tax, consumption tax, or a sales tax. Liberals (Progressives) prefer the Haig-Simmons taxation, which includes 4 layers of taxation - Capital Gains, Corporate Tax, Personal Tax, and Death Taxation. However when we spend instead of saving or investing then we are taxed once and often twice - payroll taxes and sales taxes. So we are actually penalized more by saving or investing.

The price of stocks go up if the expected future income(dividends) will increase. Capital Gains taxes actually can prevent this from happening.

The 6 Reasons Capital Gains tax should be abolished....

1) Less Investment.
2) Less Risk-taking.
3) Less Competitiveness.
4) Less Privacy (eliminates government intrusion).
5) Less Employment.
6) Less Fairness - people who save and invest are penalized way more than people who spend, but all pay some taxes.