Summary: This CON case argues that we should not repeal the Capital Gains Tax (CGT).
Released: Filed Under: Public Forum
About "Gains and Games"
This CON case argues that we should not repeal the Capital Gains Tax (CGT). When capital gains taxes are eliminated, people will have a big incentive to shift their income and find tax shelters to get more of their money into tax free status. These efforts are inefficient and take money away from productive uses. In addition, the federal government has massive deficits. We should be raising the CGT, not eliminating it, to get more revenue to reduce the deficit and help avoid the economic damage caused by higher national debt. Finally, the CGT only affects the very rich, and in many cases it is the only tax they pay on large amounts of their income.
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