[dmwallin]

This is a poorly written op-ed. The author claims to prioritize the valorization of wealth, the encouragement of saving, and the encouragement of children, but fails to make any case for why we should value these. He then completely neglects to make any case for how increasing capital gains might lead to the deterioration of these values.

Raising capital gains is not going to discourage the next innovative companies, in fact it's likely to have the opposite effect. When a startup succeeds enough to reach a taxable event it is often at an exponentially large return on investment. In comparison a simple doubling of the tax rate is not going to materially affect the magnitude of that outcome.

Capital is always in search of returns. A general tax on net gains is not going to materially change that fact. The primary effect it will have is to further encourage investment into value-generating assets instead of speculative plays, something desperately needed right now in this frothy market.