[fastball]

That's because capital gains in Denmark aren't really capital gains, they just tax it as income.

Short-term capital gains in the US are also taxed according to income tax rates, so 37% for the top bracket, which isn't far off 42%.

[ceejayoz]

I can guarantee you Bezos is ensuring his Amazon shares aren't selling as short-term capital gains.

[fastball]

Indeed. But it is not clear to me that Denmark's system of not distinguishing between the two is better than the US system of allowing long-term investments to incur less of a tax burden than short-term speculative gains.