"There's no reason why capital gains couldn't be taxed at the same rates as income." Sure there is -> risk. It's why everywhere in the world cap gains are tax

"There's no reason why capital gains couldn't be taxed at the same rates as income." Sure there is -> risk. It's why everywhere in the world cap gains are taxed lower than income. Cap gains + income tax at 90% and economy would collapse instantly as risk premium goes up, most equities and probably most bonds would drop quite a lot and people moved into real-estate, cash, commodities, gold. etc.. But maybe there could be some improvement.