The Instigator
bandnerd67
Con (against)
The Contender
Drissa.M
Pro (for)

the united states should abolish the capital gains tax

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Voting Style: Open Point System: 7 Point
Started: 2/8/2018 Category: Economics
Updated: 6 months ago Status: Debating Period
Viewed: 412 times Debate No: 107755
Debate Rounds (3)
Comments (1)
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bandnerd67

Con

Short-term capital gains tax rate. All short-term capital gains are taxed at the regular income tax rate. From a tax perspective, it's usually better to hold onto investments for more than a year.


Long-term capital gains tax rate. The tax rate paid on most capital gains depends on the income tax bracket:



  • Those in the 10 percent and 15 percent income tax brackets pay no capital gains tax.

  • Those in the top income bracket pay 20 percent. In 2017, it's 39.6 percent. Trump's tax act changes the top rate to 37 percent in 2018-2025.

  • Everyone else pays a 15 percent tax on capital gains.

Drissa.M

Pro

capital gains taxes should be reduced but not totally abolished.
the economy is one of the strengths of a state. in this respect, the tax on capital gains is a system that allows the state to raise enough funds. it will increase the total tax revenues which will allow the state to subsidize certain things such as tuition fees and being able to pay civil servants right on time and create jobs. but after all, depend on the everything depends on the sources of revenue of the state, even if there is not enough the state is always obliged to collect these funds. "in a way I would say it's the contribution of everyone in the development of his country and its proper functioning".
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Debate Round No. 3
1 comment has been posted on this debate.
Posted by hwp460 6 months ago
hwp460
I did a debate like this with someone but they never responded. Would you actually debate back?
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