Capital gains are the profits earned from the the sale of stocks, bonds and properties. Investment managers pay a 15 to 20 percent capital gains tax on profits earned from their customers’ holdings. Supporters of the increase argue that capital gains should be taxed like any other income and should be raised to at least 31.5% (the average U.S. tax rate). Opponents of an increase argue that taxing capital gains will discourage investments in the U.S. economy and prohibit growth.
@ISIDEWITH9yrs9Y
No
A good taxation policy avoids penalising productivity and taxes 'unproductive' profits.
CGT is an example of this insofar as it taxes - as politicalcompass.org so eloquently puts it - "people who simply manipulate money and contribute nothing to their society"
Taxation should be levied, generally, against unproductive profits. This has a two-fold effect of both dis-incentivising unproductive spending (e.g. what one might call "hoarding" or "banking") and incentivising genuine productivity.
It should be because the rich regularly use this as a loophole to avoid paying taxes and that is fact and proven that they do this
@9FX6GCGPeace and Freedom7mos7MO
inflationary gains are taxed, gains on corporate stock are taxed twice, and the tax is often unnecessarily complex.
@9FZWSRC7mos7MO
This will have a greater effect on richer people than poor, making them more likely to pay their fair share.
@ISIDEWITH9yrs9Y
Yes
We should not be taxing transactions. To do so is complex, inefficient and also unfair given the absence of any indexation of capital values for inflation.
@9FG5T2K7mos7MO
No, the taxes as is are already unreasonably high for the middle class in terms of income. There's no need to punish people on their capital gains as well.
@ISIDEWITH7yrs7Y
No, and abolish capital gains taxes
@9F5WBQNAmerican Solidarity8mos8MO
The capital gains tax is a major source of revenue, and the most direct way the rich can be included in the tax system to pay their fair share, as much of their net worth lies in their investments. Without the capital gains tax, the rich would not pay their fair share and the bulk of the tax burden would be placed on the middle and lower classes
@PumaBertLibertarian8mos8MO
While I understand your point, it's important to consider that capital gains taxes can discourage investment and economic growth. For instance, consider a small business owner who has invested heavily in their business. If they decide to sell their business after years of hard work and the tax rate on their profit is too high, they may be discouraged from making such investments in the future. This could potentially stagnate economic growth. What could be a possible solution to ensure the rich pay their fair share, but also encourage investment and growth?
@9F79FYZ8mos8MO
Capital Gains Taxes are income and thus must be taxed like income, plus, the United States is the most profitable market in the world and would not deter investors.
@7X2MWM6Libertarian8mos8MO
Capital Gains Taxes are a tax on the devaluation of the dollar. Without consideration of inflation, it's effectively double taxation
@9F829HN8mos8MO
The wealthy deserve to be heavily taxed, and Capital Gains Tax is a more effective way to tax the wealthy than income taxes.
@9F8CW2CRepublican8mos8MO
No, capital gains tax are the earnings of a business like how a worker's earnings are taxed a business' earnings should be taxed too
@ISIDEWITH9yrs9Y
No, increasing the capital gains tax will limit investment in our economy
@9FV5S9CProgressive7mos7MO
Our economy is not working well for a lot of people. Therefore, increasing any type of tax will just make it worse for them.
@ISIDEWITH9yrs9Y
Yes, and increase to the average U.S. tax rate (31.5%)
@9F79FYZ8mos8MO
https://www.taxpolicycenter.org/briefing-book/what-effect-lower-tax-rate-capital-gains
Lowering CG Taxes does not cause economic growth, however, raising them allows for more public funds to be used towards infrastructure, healthcare, etc.
@E1ectoralCalLibertarian8mos8MO
While it's true that the correlation between lower capital gains taxes and economic growth isn't always direct, we must consider the potential consequences of increasing them. Higher capital gains tax rates may discourage risk-taking and investment, which are crucial for innovation and job creation. For instance, Silicon Valley's tech boom was largely driven by investors willing to take risks on start-ups. If the tax on potential profits were too high, would we see the same level of investment? I'd be interested to hear your thoughts on how we can strike a balance between raising public funds and encouraging economic dynamism.
@9FMPP647mos7MO
If Capital Gains tax is increase more people may attempt tax evasion methods and people will have less personal money to invest into the Economy. This means people will be more cautious of where they spend there money as they have less of it to spend
This can result in a lower quality of life in the United States and in the long term certain sectors will be affected.
@9FNS6HN7mos7MO
Lowering CG Taxes does not cause economic growth, however, raising them allows for more public funds to be used towards infrastructure, healthcare, etc.
@ISIDEWITH7yrs7Y
@ISIDEWITH7yrs7Y
Consumption and use taxes are preferred to taxes on productive capital/savings.
@93FQRFK2yrs2Y
No and lower them and lower taxes on stock earnings
@93GHC7Y2yrs2Y
No lower them and lower taxes on stock earnings
@98N7L6N1yr1Y
yes, following the tax income brackets
@9757M5Z1yr1Y
Abolish capital gains taxes for lower and middle class, raise for upper class and day traders.
@mechanicalloser4wks4W
We should ensure fairness, support the needs of the "least of these," and encourage the wealthy to use their resources in ways that benefit the wider community. This could involve a nuanced perspective that acknowledges the importance of supporting both the vulnerable in society and the health of the economy as a whole, perhaps suggesting that those with more resources have a greater responsibility to contribute to the welfare of all.
@9GJTNP96mos6MO
Capital gains should be taxed separately from traditional income, however, it needs to be increased proportional to an individuals investment.
@9FGHJGD7mos7MO
i do not understand this question
@8WS2DNJ3yrs3Y
yes, on real estate not stocks and bonds.
@9D3RPBQ9mos9MO
All capital gains should be taxed
Yes, establish a flat capital gains tax rate of 20% but increase the rate to 28% for net profits in excess of $1 million. Exempt one primary residence from the tax.
@935M6NN2yrs2Y
Yes, and abolish the stock market.
Yes. Tax unearned income as much as if not more than earned income
@99MFTPG1yr1Y
Yes, and nationalize the stock market
@8SYNVR43yrs3Y
Yes, on real estate, but not on stocks and bonds
@997XQ7KProgressive1yr1Y
I am not educated about this
@97MRBPP1yr1Y
Politicians should not be allowed to trade stocks
@95YXM3LRepublican2yrs2Y
All domestic taxes should be flat rated at 10% . Increase revenue through tariffs.
@94RC5DV2yrs2Y
Yes, and make it a variable rate akin to the income tax rate so that the richest people pay the highest rate
@97V3SQ81yr1Y
Yes. But proportionately lower income taxes so they are the same.
@93HC6Q72yrs2Y
Only on earners in the top tax brackets
@8M774V43yrs3Y
No, but all income should be taxed at the same rate and we need to abolish pre-tax deductions so people and corporations cannot shelter their income without paying taxes
@8RCLKRL3yrs3Y
yes, for large firms that manage large amounts of money, but not for individual consumers
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