Or, even easier and more effective, abolish estate and gift and capital gains taxes, and tax inheritances, gifts, and capital gains as normal income to the people recieving them.
Because for some recipients, especially for the non-rich, these are non-repeatable, you do need to add some handling to the regular income tax system to address inconsistent incomes with multi-year smoothing mechanisms to make taxation of those kinds of income fair, but that also makes taxation of variable regular income more fair, too.
I'm familiar but none of them are very good. The only really good way to avoid capital gains taxes is to die and use your estate tax exemption on the securities you hold. Which is why increasing the estate tax rate and decreasing it's exemption in tandem with an increase in capital gains is the best way to tax the wealthy.
Who would pass these capital gains taxes? Politicians, right? The same ones who can be influenced by lobbyists?
When these laws are passed, will assets be sheltered by accountants?
I know a Bitcoin millionaire. He avoided capital gains taxes this year by upgrading his Jeep. The money that would have gone to taxes, he used instead for upgrades, because of a loophole that permits upgrades to be taxed at a much lower rate.
Because for some recipients, especially for the non-rich, these are non-repeatable, you do need to add some handling to the regular income tax system to address inconsistent incomes with multi-year smoothing mechanisms to make taxation of those kinds of income fair, but that also makes taxation of variable regular income more fair, too.