I am not sure I support taxing capital gains as ordinary income unless there is some way to adjust the gains for inflation.
For instance, if your capital gains tracked inflation precisely it seems fundamentally unfair to tax a percentage of the gains, as the person has not really "gained" in real terms.
For instance, if your capital gains tracked inflation precisely it seems fundamentally unfair to tax a percentage of the gains, as the person has not really "gained" in real terms.