I can’t speak for HN as a whole, but to me I can see an argument for dividends to be taxed favorably but why all capital gains? If I buy a collectible stamp and

I can’t speak for HN as a whole, but to me I can see an argument for dividends to be taxed favorably but why all capital gains? If I buy a collectible stamp and later sell it for a big gain, there’s no double taxation argument. Adjust the basis for inflation, sure, but that’s about it. That would also incentivize companies to pay dividends, which I think is good for various reasons.