Because they should either get rid of capital gains altogether, or make it universal. This is just going to artificially encourage everyone to launch some stupid shitcoin for no reason.
Discussion
For the record capital gains is a horrible tax and should be deleted. It’s punishing people for inflation avoidance.
And income tax is punishing people for being productive. Not sure why cap gains is worse than other taxes like income and sales. I hadn't thought of the inflation avoidance angle before though. So we have a feedback loop between the gvt causing inflation and getting more revenue from cap gains. I wonder if there is a way to modify the cap gains tax to reduce that effect.
It’s like watching every other cycle combined into one large wave of bad decisions (along with some decent ones)…is this the feeling of a Nation State having essentially a “burning the hand on the stove” moment?