Taxes by Tax Credits
Taxes, a photo by Tax Credits on Flickr.

We need a capital gains tax – or do we?

On one side, the proponents of capital gains tax are citing economic efficiency and fairness and saying we must protect the integrity of the “broad-based, everyone pays” tax system.

Yet on the other hand opponents say we don’t need it, never needed it and once we’ve got it capital gains tax will never go away.

It’s going to be an extraordinary debate, but what we need now is an informed look through the issues, benefits and drawbacks of a new tax. We must decide: what’s best for the country and the taxpayers?