The Instigator
soulo14
Con (against)
The Contender
hwp460
Pro (for)

The U.S should abolish the capital gains tax

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Voting Style: Open Point System: 7 Point
Started: 2/1/2018 Category: Economics
Updated: 5 months ago Status: Debating Period
Viewed: 911 times Debate No: 107405
Debate Rounds (4)
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soulo14

Con

The capital gain tax being removed will create a hole in the government's revenue. Thus, will make the government create a new tax or raise taxes for an existing tax putting more strain on the economy then the capital gain tax actually did. It will be more efficient to keep the capital gain tax so this strain will not occur.
hwp460

Pro

You are correct in assuming that there will be another tax or tax increase somewhere to cover up for it, but that is not a bad thing. Another possibility is that they could cut a government program. I don't feel there will be a huge strain, and I also believe it will be a way for everyone to pull their weight in America so it's just not the landowning few having to carry the rest of the nation with this tax. I will outline each of these arguments individually to help make the round go smoother.

1. A proposed counterplan to getting rid of the capital gains tax is to increase the sales tax. If we were to do this, then we could make sure EVERYONE pulled there weight in America. It's not fair that someone who is hypothetically moving to find a better job should have some of the money from selling land taken away just because he owned land.

2. Another separately proposed counterplan would be to get rid of a government agency or significantly shrink an agency of unnecessary assets. Some example agencies that could be cut or dismantled could be military, NSA or even the IRS since we don't need anyone checking out capital gains taxes anymore.

3. My last argument is that the capital gains tax buts and unfair burden on the people who own land. This forces people who decided to actually invest in land to be punished for there decision to own land. This allows people who leach off the system to pay even fewer taxes because they don't own land, so they won't have to help pay for the things I proposed cutting or even other programs such as CDC, education, and Department of Homeland Security.
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