[biddit]

I take two issues with your reasoning around capital gains rates. One is on fairness, and one is on the systematic result.

With regards to fairness, it is inherently unfair to tax someone making $120k/year working a desk job at a higher effective rate someone who inherits $100M and makes all of their income from long term capital gains. The "2nd round of taxation" line are mental gymnastics. It's income. It's just the "haves" trying to push the rules further in their favor.

With regards to systematic results, taxing capital gains at a lower rate than other earned income increases the compound effect of wealth disparity. Those with wealth, whether earned or inherited, are able to keep more of it, than those without. The resulting extreme disparity is fundamentally unhealthy to our society. We are witnessing the symptoms of it now in the rise of nationalist and socialist movements, as the bottom half of this country is looking around wondering why the system isnt working for them.