Interesting. AFAICT, the government has merely assumed the authority to tax nominal gains, but this is contrary to what the constitution says in the amendment granting the federal government unequal taxation power on income.
All I was able to find from a quick search was a write-up from a think tank on the topic from 2018. Lots of good argumentation provided.
https://taxfoundation.org/research/all/federal/inflation-adjusting-capital-gains/
Interesting. AFAICT, the government has merely assumed the authority to tax nominal gains, but this is contrary to what the constitution says in the amendment granting the federal government unequal taxation power on income.
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