Quote:
Originally Posted by whell
The tree is capital as since it can be argued that the value is increased by human labor in this example. Also in this example, the tree is the "raw material". Raw materials are capital.
|
The definitional argument aside, would you care to comment on my main point, which is that to low taxation of capital gains, in comparison to taxation of income, can be an economic impediment to growth by over-incentivizing risk?