Tagged: Capital Gains Tax

Against capital gains taxes: Sumner edition - The Dismal Science

Eric Crampton Mar 12, 2015

Capital gains taxes still do not make economic sense.Here's Scott Sumner explaining that while wage and consumption taxes can be equivalent, capital gains taxes are effectively a distortionary tax on future consumption relative to present consumption.The biggest confusion is that people don’t understand why capital income should not be taxed, and why a wage tax is equivalent to a consumption … Read More