Capital gains are only taxed for American investors. Foreign investors get away scott free. Their proceeds are highly unpredictable and even more cyclical compa

Capital gains are only taxed for American investors. Foreign investors get away scott free. Their proceeds are highly unpredictable and even more cyclical compared to corporate income tax. There are too many ways to defer or never pay them. It's more reliable as a tax base to take a little of profits every year than take a bunch all at one uncertain time in the future.