If a person makes a smart investment, such as in a piece of property that goes up in value, the person shouldn't have to pay a t

Question

alisha [4.7K]

3 years ago

6

If a person makes a smart investment, such as in a piece of property that goes up in value, the person shouldn't have to pay a t

ax (capital gains tax) on the money made when he or she sells the property.

Social Studies

1 answer:

nlexa [21] · Answer 1 · 2022-06-21T20:53:43+03:00

Answer:

No, they shouldn't be taxed.

Explanation:

This would be more of a personal opinion as capital gains taxes are used for different government programs as are all other forms of taxes. It is also better to have to pay taxes on gains and not losses since that would only worsen the loss. Capital Gains Taxes are also only applied if the person sells the asset in question before holding it for an entire year, if the asset is held for 365 days then the tax is cut down to 0%. Personally, I think there are reasons for this to exist but still believe that If a person made a profit due to a smart investment then they shouldn't be taxed.