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Capital gains taxation is not double taxation: it is taxation only on the increase in value of assets. CGT generally has the same rate as income tax: the reaso
by chalst 5y ago
Capital gains taxation is not double taxation: it is taxation only on the increase in value of assets.
CGT generally has the same rate as income tax: the reason why the rich are better off earning through capital increases than wages is that they get to decide when the capital gains happens, which means that their wealth managers and tax accountants can optimise their affairs to minimise tax.
The fundamental misunderstanding is yours.
- dragonwriter 5y ago> CGT generally has the same rate as income tax If by “CGT generally” you mean “short-term capital gains tax”. But, that's not true of long-term capital gains that kick in at a year and a day of holding the asset.