Does having an AirBNB setup make someone deserving of the guillotine or does that only apply to owners of multiple houses? What about apartments?
Please explain your reasoning as well.
If you just go after capital gains as income, you’re also going after people’s savings and retirement accounts. Not good.
Unless you just make the tax progressive, like any sane system. It can start at 0 for the average retirement savings amount of capital gains and just go up once you start reaching crazy amounts of wealth
Capital gains IS progressive. Short term capital gains are taxed as ordinary income. Long term capital gains are taxed according to income bracket and range from 0% to 20%. This year to qualify for the 0% tax bracket a single person would have to make less than approximately $47k. Hardly rich.