>Capital gains taxes have historically been lower to encourage the investment of capital.
That's nonsense. They have historically been lower because rich people make (or at the very least, heavily influence) the rules and so they tipped the tax scales in their favor. The 'encouraging investment' bit is just the nice sounding excuse they use.
That's nonsense. They have historically been lower because rich people make (or at the very least, heavily influence) the rules and so they tipped the tax scales in their favor. The 'encouraging investment' bit is just the nice sounding excuse they use.